Uncovering Institutional Buying In APA Corporation (NASDAQ: APA)

Currently, there are 369.92M common shares owned by the public and among those 362.15M shares have been available to trade.

The company’s stock has a 5-day price change of -1.10% and -13.40% over the past three months. APA shares are trading -37.51% year to date (YTD), with the 12-month market performance down to -38.07% lower. It has a 12-month low price of $21.15 and touched a high of $37.82 over the same period. APA has an average intraday trading volume of 6.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.33%, -6.71%, and -21.52% respectively.

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Institutional ownership of APA Corporation (NASDAQ: APA) shares accounts for 83.66% of the company’s 369.92M shares outstanding.

It has a market capitalization of $8.29B and a beta (3y monthly) value of 3.19. The stock’s trailing 12-month PE ratio is 3.17, while the earnings-per-share (ttm) stands at $7.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.50% over the week and 3.53% over the month.

Earnings per share for the fiscal year are expected to decrease by -11.71%, and -10.20% over the next financial year.

Looking at the support for the APA, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on July 18, 2024, with the firm’s price target at $42. Evercore ISI coverage for the APA Corporation (APA) stock in a research note released on June 14, 2024 offered a In-line rating with a price target of $39. Wells Fargo was of a view on April 24, 2024 that the stock is Overweight, while Barclays gave the stock Equal Weight rating on April 10, 2024, issuing a price target of $40. Johnson Rice on their part issued Hold rating on January 05, 2024.

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