APA Target of Unusually Large Options Trading (NASDAQ:APA)

APA Co. (NASDAQ:APA) saw some unusual options trading activity on Thursday. Traders bought 53,064 put options on the company. This is an increase of approximately 181% compared to the typical volume of 18,910 put options.

APA Trading Up 0.5 %

NASDAQ:APA traded up $0.15 on Thursday, reaching $30.66. 1,545,958 shares of the company’s stock were exchanged, compared to its average volume of 6,817,722. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 3.44 and a beta of 3.29. APA has a 52-week low of $28.90 and a 52-week high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $32.54 and a 200-day moving average of $33.80.

APA (NASDAQ:APA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a net margin of 34.04% and a return on equity of 45.32%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the business earned $1.19 EPS. APA’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts expect that APA will post 5.03 earnings per share for the current year.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American National Bank grew its holdings in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of APA in the third quarter valued at approximately $34,000. Quent Capital LLC raised its stake in shares of APA by 64.0% during the fourth quarter. Quent Capital LLC now owns 961 shares of the company’s stock worth $34,000 after purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of APA during the fourth quarter worth $34,000. Finally, Principal Securities Inc. purchased a new position in APA in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on APA. The Goldman Sachs Group decreased their price objective on shares of APA from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Piper Sandler raised their target price on APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Roth Mkm boosted their price target on APA from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Scotiabank restated a “sector perform” rating and issued a $37.00 price objective (down from $43.00) on shares of APA in a research note on Tuesday, January 16th. Finally, Barclays dropped their target price on APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, APA has an average rating of “Hold” and a consensus price target of $42.20.

About APA

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.