Investors Buy Large Volume of Call Options on APA (NASDAQ:APA)

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APA Co. (NASDAQ:APAGet Rating) was the target of unusually large options trading on Monday. Stock investors purchased 26,957 call options on the company. This is an increase of approximately 44% compared to the typical daily volume of 18,676 call options.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Mercer Global Advisors Inc. ADV increased its holdings in APA by 52.0% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 21,574 shares of the company’s stock worth $892,000 after acquiring an additional 7,380 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in APA by 1,802.8% in the 1st quarter. First Horizon Advisors Inc. now owns 6,717 shares of the company’s stock worth $277,000 after purchasing an additional 6,364 shares during the period. Main Street Financial Solutions LLC bought a new position in APA in the 1st quarter worth about $223,000. Strs Ohio boosted its stake in APA by 13.4% in the 1st quarter. Strs Ohio now owns 1,186,000 shares of the company’s stock worth $49,017,000 after purchasing an additional 140,000 shares during the period. Finally, Savant Capital LLC bought a new stake in shares of APA during the 1st quarter valued at about $247,000. 83.36% of the stock is owned by institutional investors.

APA Trading Up 5.0 %

NASDAQ APA opened at $40.00 on Tuesday. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 4.50, a price-to-earnings-growth ratio of 0.14 and a beta of 3.81. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 3.43. APA has a twelve month low of $18.52 and a twelve month high of $51.95. The business’s fifty day moving average is $35.71 and its 200 day moving average is $38.52.

APA (NASDAQ:APAGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $2.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.37. The business had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.77 billion. APA had a return on equity of 622.55% and a net margin of 32.57%. As a group, sell-side analysts expect that APA will post 9.9 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on APA. Piper Sandler reduced their price target on APA from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, July 22nd. MKM Partners increased their price target on APA from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Susquehanna reduced their price target on APA from $52.00 to $49.00 and set a “positive” rating on the stock in a research report on Friday, August 5th. Susquehanna Bancshares reduced their target price on APA from $52.00 to $49.00 and set a “positive” rating on the stock in a report on Friday, August 5th. Finally, Bank of America reduced their target price on APA from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.31.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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