Alyeska Investment Group L.P. Purchases Shares of 814,873 APA Corporation $APA

Key Points

• Alyeska Investment Group L.P. purchased 814,873 shares of APA Corporation valued at approximately $17.1 million, representing about 0.23% of the company at the end of the quarter.
• A number of institutional investors, including Golden State Wealth Management LLC and Rakuten Securities Inc., significantly increased their stakes in APA during the first quarter, with increases of 2,709.8% and 499.2% respectively.
• Analysts have given APA an average rating of "Hold" with a target price of $23.72, while recent earnings surpassed expectations with $0.87 EPS against a consensus estimate of $0.45.

Alyeska Investment Group L.P. bought a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 814,873 shares of the company's stock, valued at approximately $17,129,000. Alyeska Investment Group L.P. owned 0.23% of APA at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its holdings in APA by 30.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,238 shares of the company's stock valued at $306,000 after buying an additional 3,074 shares during the period. Crestline Management LP grew its holdings in APA by 47.4% during the 4th quarter. Crestline Management LP now owns 40,936 shares of the company's stock worth $945,000 after acquiring an additional 13,161 shares during the period. Deutsche Bank AG raised its position in shares of APA by 41.0% during the 4th quarter. Deutsche Bank AG now owns 1,848,470 shares of the company's stock valued at $42,681,000 after acquiring an additional 537,943 shares during the last quarter. Ethic Inc. lifted its stake in shares of APA by 75.0% in the 4th quarter. Ethic Inc. now owns 18,471 shares of the company's stock valued at $426,000 after purchasing an additional 7,919 shares during the period. Finally, Graham Capital Management L.P. acquired a new position in shares of APA in the 4th quarter valued at $2,852,000. Institutional investors own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

APA has been the subject of a number of analyst reports. UBS Group lifted their price objective on APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Cowen restated a "hold" rating on shares of APA in a report on Thursday, August 7th. Citigroup upped their price target on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Argus upgraded shares of APA to a "hold" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of APA from $17.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.72.

APA Stock Down 2.9%

APA traded down $0.69 during trading on Friday, reaching $22.75. The company had a trading volume of 5,994,228 shares, compared to its average volume of 5,923,847. The company has a market cap of $8.14 billion, a P/E ratio of 7.61, a PEG ratio of 6.76 and a beta of 1.29. APA Corporation has a 12 month low of $13.58 and a 12 month high of $27.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business's fifty day moving average price is $20.21 and its 200 day moving average price is $18.89.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.42. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm's revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Equities analysts anticipate that APA Corporation will post 4.03 EPS for the current year.

APA 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.