Gamco Investors INC. ET AL Raises Stock Position in APA Corporation $APA

Key Points

• Gamco Investors INC. ET AL increased its stake in APA Corporation by 4.4%, acquiring an additional 26,671 shares, bringing its total ownership to 635,052 shares valued at approximately $13.35 million.
• Analyst ratings for APA vary, with three analysts rating it as a Buy, fourteen as a Hold, and three as a Sell; the consensus rating is currently "Hold" with an average target price of $23.94.
• APA Corporation reported earnings of $0.87 per share, exceeding analysts' expectations, despite a 14.4% decrease in revenue year-over-year, totaling $2.18 billion.

Gamco Investors INC. ET AL increased its stake in APA Corporation (NASDAQ:APA - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 635,052 shares of the company's stock after acquiring an additional 26,671 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.18% of APA worth $13,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APA. Dimensional Fund Advisors LP boosted its stake in APA by 46.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock worth $190,876,000 after purchasing an additional 2,894,543 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in APA during the 4th quarter worth $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in APA by 29.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after purchasing an additional 1,195,212 shares during the last quarter. Nuveen LLC acquired a new stake in APA during the 1st quarter worth $22,533,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock worth $292,871,000 after purchasing an additional 1,046,893 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Trading Up 1.0%

NASDAQ APA traded up $0.24 during trading hours on Monday, reaching $23.22. The company had a trading volume of 5,660,800 shares, compared to its average volume of 7,316,170. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $8.31 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 6.91 and a beta of 1.29. The stock has a 50-day moving average of $19.72 and a 200 day moving average of $18.90. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business's revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 earnings per share. As a group, research analysts anticipate that APA Corporation will post 4.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on APA shares. Cowen reaffirmed a "hold" rating on shares of APA in a research note on Thursday, August 7th. Stephens started coverage on shares of APA in a research note on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 target price on the stock. Scotiabank reissued a "sector perform" rating and set a $22.00 price target (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Morgan Stanley boosted their price target on shares of APA from $22.00 to $23.00 and gave the company an "underweight" rating in a research report on Monday, August 18th. Finally, The Goldman Sachs Group boosted their price target on shares of APA from $17.00 to $19.00 and gave the company a "sell" rating in a research report on Tuesday, August 26th. Three equities research 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, APA currently has a consensus rating of "Hold" and a consensus price target 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.