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

APA Co. (NASDAQ:APA) was the recipient of unusually large options trading on Thursday. Investors bought 53,064 put options on the company. This represents an increase of 181% compared to the typical volume of 18,910 put options.

Institutional Trading of APA

A number of institutional investors have recently modified their holdings of the company. Blair William & Co. IL acquired a new stake in shares of APA in the first quarter valued at approximately $256,000. Midwest Professional Planners LTD. acquired a new stake in APA in the 1st quarter valued at $852,000. Kingsview Wealth Management LLC lifted its position in APA by 69.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 100,083 shares of the company’s stock worth $3,441,000 after buying an additional 41,002 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of APA by 23.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,474 shares of the company’s stock worth $12,565,000 after buying an additional 68,244 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of APA by 10.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 392,790 shares of the company’s stock worth $14,164,000 after buying an additional 37,212 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Stock Performance

Shares of APA opened at $30.88 on Friday. The firm has a market cap of $9.30 billion, a P/E ratio of 3.45 and a beta of 3.29. APA has a twelve month low of $28.90 and a twelve month high of $46.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50 day moving average price is $32.56 and its two-hundred day moving average price is $33.78.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on APA. Susquehanna boosted their price target on shares of APA from $54.00 to $57.00 and gave the stock a “positive” rating in a research note on Tuesday. Roth Mkm upped their target price on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays reduced their price target 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. JPMorgan Chase & Co. upped their price objective on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $28.00 target price on shares of APA in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, APA has an average rating of “Hold” and an average target price 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.