EntryPoint Capital LLC Purchases New Position in APA Corporation $APA

Key Points

• EntryPoint Capital LLC has acquired a stake in APA Corporation by purchasing 13,774 shares, valued at approximately $290,000.
• APA Corporation’s stock recently increased by 4.9%, with current trading at $21.64 and a twelve-month high of $29.47.
• Analysts have mixed ratings on APA, with a consensus rating of "Hold" and an average price target of $23.94.

EntryPoint Capital LLC bought a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,774 shares of the company's stock, valued at approximately $290,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of APA by 7.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 723,782 shares of the company's stock worth $15,214,000 after acquiring an additional 49,484 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of APA during the first quarter valued at $467,000. Brooklyn Investment Group boosted its position in shares of APA by 694.2% in the 1st quarter. Brooklyn Investment Group now owns 4,543 shares of the company's stock valued at $95,000 after purchasing an additional 3,971 shares during the period. Versor Investments LP purchased a new position in APA in the 1st quarter worth about $2,014,000. Finally, Raymond James Financial Inc. raised its holdings in APA by 2.0% during the 1st quarter. Raymond James Financial Inc. now owns 641,750 shares of the company's stock worth $13,490,000 after buying an additional 12,746 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Stock Up 0.7%

APA stock traded up $0.17 during mid-day trading on Thursday, hitting $22.76. 1,336,244 shares of the company's stock were exchanged, compared to its average volume of 7,928,406. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.47. The stock has a 50 day moving average of $19.60 and a two-hundred day moving average of $18.95. The stock has a market cap of $8.14 billion, a P/E ratio of 7.59, a P/E/G ratio of 6.51 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.17 earnings per share. As a group, analysts anticipate that APA Corporation will post 4.03 EPS for the current fiscal year.

Analysts Set New Price Targets

APA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Morgan Stanley raised their price objective on APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a research report on Monday, August 18th. Cowen reissued a "hold" rating on shares of APA in a research report on Thursday, August 7th. Scotiabank reaffirmed a "sector perform" rating and set a $22.00 price objective (up from $14.00) on shares of APA in a research report on Friday, July 11th. Finally, Piper Sandler upped their price objective on shares of APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $23.72.

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.