Allspring Global Investments Holdings LLC Purchases 212,121 Shares of APA Co. (NASDAQ:APA)

Allspring Global Investments Holdings LLC boosted its holdings in shares of APA Co. (NASDAQ:APA) by 763.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 239,890 shares of the company’s stock after purchasing an additional 212,121 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in APA were worth $7,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of APA during the fourth quarter valued at $11,050,000. Federated Hermes Inc. increased its position in shares of APA by 568.2% during the fourth quarter. Federated Hermes Inc. now owns 12,508 shares of the company’s stock worth $449,000 after purchasing an additional 10,636 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in APA in the fourth quarter valued at about $485,000. First Trust Direct Indexing L.P. boosted its stake in APA by 13.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,598 shares of the company’s stock worth $237,000 after purchasing an additional 760 shares in the last quarter. Finally, Summit Global Investments increased its position in shares of APA by 19.0% in the 4th quarter. Summit Global Investments now owns 6,315 shares of the company’s stock valued at $227,000 after acquiring an additional 1,010 shares during the period. Institutional investors own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on APA shares. Evercore ISI lowered shares of APA from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $52.00 to $39.00 in a research report on Friday, June 14th. Sanford C. Bernstein decreased their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. StockNews.com lowered APA from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Bank of America reaffirmed an “underperform” rating and set a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Finally, Citigroup dropped their target price on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.05.

APA Price Performance

Shares of NASDAQ APA opened at $28.49 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $29.50 and a two-hundred day moving average price of $30.65. The firm has a market cap of $10.58 billion, a PE ratio of 3.19 and a beta of 3.26. APA Co. has a fifty-two week low of $26.81 and a fifty-two week high of $46.15.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Sell-side analysts expect that APA Co. will post 4.17 earnings per share for the current fiscal year.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.