Trexquant Investment LP Raises Stock Position in APA Corporation $APA

Key Points

• Trexquant Investment LP increased its stake in APA Corporation by 207.7%, owning 384,287 shares valued at approximately $8 million after adding over 259,000 shares in the first quarter.
• Several institutional investors, including GAMMA Investing LLC and Allspring Global Investments, significantly boosted their positions in APA during the same period, indicating strong interest as 83.01% of the stock is held by such entities.
• Analysts have recently set an average target price of $23.72 for APA shares, with a majority rating it as a "Hold," reflecting cautious optimism about the company's performance.

Trexquant Investment LP raised its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 207.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 384,287 shares of the company's stock after acquiring an additional 259,405 shares during the quarter. Trexquant Investment LP owned approximately 0.11% of APA worth $8,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC boosted its stake in shares of APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in shares of APA during the 4th quarter worth $42,000. LRI Investments LLC purchased a new position in shares of APA during the 4th quarter worth $44,000. Finally, SVB Wealth LLC purchased a new position in shares of APA during the 1st quarter worth $55,000. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Price Performance

NASDAQ APA traded down $1.16 on Wednesday, reaching $22.68. The company had a trading volume of 8,307,632 shares, compared to its average volume of 7,944,046. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $8.11 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 6.91 and a beta of 1.29. The firm's 50 day moving average price is $19.93 and its 200 day moving average price is $18.93. APA Corporation has a 12 month low of $13.58 and a 12 month high of $27.48.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The company had revenue of $2.18 billion for 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%. APA's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 EPS. As a group, equities analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APA. Cfra Research upgraded shares of APA to a "hold" rating in a research note on Friday, August 8th. Piper Sandler raised their price objective on shares of APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Stephens started coverage on shares of APA in a research report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 price objective on the stock. UBS Group raised their price objective on shares of APA from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Royal Bank Of Canada decreased their price objective on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, APA has a consensus rating of "Hold" and an average target price of $23.72.

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.