FORA Capital LLC Purchases New Position in APA Corporation $APA

Key Points

• FORA Capital LLC has acquired a new stake in APA Corporation, purchasing 48,397 shares valued at approximately $1,017,000 during the first quarter.
• A number of institutional investors have increased their stakes in APA, with Dimensional Fund Advisors LP boosting its holdings by 46.8% to over 9 million shares worth $190 million.
• APA reported earnings of $0.87 per share, surpassing the consensus estimate of $0.45, although its revenue declined by 14.4% year-over-year.

FORA Capital LLC bought a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,397 shares of the company's stock, valued at approximately $1,017,000.

Several other large investors have also modified their holdings of APA. GAMMA Investing LLC boosted its stake in shares of APA by 3,303.0% during the first quarter. GAMMA Investing LLC now owns 268,194 shares of the company's stock valued at $5,637,000 after purchasing an additional 260,313 shares in the last quarter. Fifth Third Bancorp lifted its holdings in APA by 14.5% during the first quarter. Fifth Third Bancorp now owns 26,137 shares of the company's stock worth $549,000 after buying an additional 3,306 shares during the period. Allspring Global Investments Holdings LLC boosted its position in APA by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 207,210 shares of the company's stock valued at $4,378,000 after acquiring an additional 21,630 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of APA by 34.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company's stock valued at $5,665,000 after acquiring an additional 68,725 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares during the period. Institutional investors own 83.01% of the company's stock.

APA Stock Performance

NASDAQ:APA traded up $0.62 during trading hours on Tuesday, reaching $23.84. The company had a trading volume of 6,785,789 shares, compared to its average volume of 6,998,899. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a 1-year low of $13.58 and a 1-year high of $27.95. The business's 50 day moving average price is $19.93 and its 200-day moving average price is $18.93. The firm has a market cap of $8.53 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 6.91 and a beta of 1.29.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APA. Barclays raised their price objective on APA from $21.00 to $22.00 and gave the company an "equal weight" rating in a research report on Friday, August 8th. Wells Fargo & Company increased their target price on shares of APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Stephens began coverage on APA in a research note on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 price target on the stock. Royal Bank Of Canada dropped their price objective on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Monday, July 14th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $26.00 price target (up previously from $25.00) on shares of APA in a report on Tuesday, July 22nd. Three investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.72.

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.