APA Corporation $APA Shares Bought by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in APA Corporation by 7.3%, acquiring an additional 49,484 shares, bringing its total ownership to 723,782 shares valued at approximately $15.2 million.
• APA Corporation reported a quarterly earnings per share (EPS) of $0.87, significantly surpassing analysts' expectations of $0.45, despite a 14.4% decline in revenue compared to the previous year.
• Wall Street analysts maintain a cautious outlook on APA, with an average rating of "Hold" and a target price of $23.72, reflecting mixed sentiment among different brokerages regarding the stock's potential.

BI Asset Management Fondsmaeglerselskab A S lifted its stake in APA Corporation (NASDAQ:APA - Free Report) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 723,782 shares of the company's stock after buying an additional 49,484 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.20% of APA worth $15,214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in shares of APA by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company's stock worth $2,630,000 after buying an additional 449 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of APA by 1.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company's stock worth $1,018,000 after buying an additional 517 shares during the period. Albert D Mason Inc. boosted its position in shares of APA by 5.7% in the first quarter. Albert D Mason Inc. now owns 12,261 shares of the company's stock worth $258,000 after buying an additional 657 shares during the period. Greenwood Capital Associates LLC boosted its position in shares of APA by 2.7% in the first quarter. Greenwood Capital Associates LLC now owns 28,107 shares of the company's stock worth $591,000 after buying an additional 730 shares during the period. Finally, Lipe & Dalton boosted its position in shares of APA by 3.5% in the first quarter. Lipe & Dalton now owns 23,290 shares of the company's stock worth $490,000 after buying an additional 780 shares during the period. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Stock Performance

Shares of APA stock traded up $0.4710 on Monday, reaching $22.1110. 1,908,602 shares of the company were exchanged, compared to its average volume of 7,973,952. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The company's 50-day moving average is $19.49 and its two-hundred day moving average is $18.90. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 6.37 and a beta of 1.23. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.47.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The business's quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. As a group, research analysts expect that APA Corporation will post 4.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on APA shares. Scotiabank reissued a "sector perform" rating and issued a $22.00 price target (up previously from $14.00) on shares of APA in a report on Friday, July 11th. Barclays increased their price target on APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Stephens started coverage on APA in a report on Tuesday, August 5th. They issued an "equal weight" rating and a $24.00 price target for the company. Roth Capital downgraded APA from a "buy" rating to a "neutral" rating and set a $22.00 price target for the company. in a report on Wednesday, August 13th. Finally, Morgan Stanley increased their price target on APA from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, August 18th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.94.

APA Company 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.