Gotham Asset Management LLC Acquires 443,838 Shares of APA Corporation $APA

Key Points

• Gotham Asset Management LLC significantly increased its stake in APA Corporation, purchasing an additional 443,838 shares, resulting in a total of 531,571 shares owned, valued at around $11.17 million.
• Institutional investors now own 83.01% of APA's stock, suggesting strong support for the company from major investment firms.
• APA Corporation's recent quarterly earnings showed a positive performance, with $0.87 earnings per share, surpassing expectations, despite a 14.4% year-over-year revenue decline.

Gotham Asset Management LLC lifted its position in APA Corporation (NASDAQ:APA - Free Report) by 505.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 531,571 shares of the company's stock after purchasing an additional 443,838 shares during the quarter. Gotham Asset Management LLC owned 0.15% of APA worth $11,174,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in APA by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock worth $190,876,000 after buying an additional 2,894,543 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 acquiring an additional 1,195,212 shares during the last quarter. Nuveen LLC bought a new stake in APA during the 1st quarter worth approximately $22,533,000. Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 8.1% during the first 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. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of APA by 2.9% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock worth $765,964,000 after purchasing an additional 1,029,961 shares during the last quarter. Institutional investors own 83.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on APA shares. Morgan Stanley increased their price objective on shares of APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a report on Monday, August 18th. Citigroup increased their price target on shares of APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Scotiabank reissued a "sector perform" rating and set a $22.00 price target (up from $14.00) on shares of APA in a research note on Friday, July 11th. Stephens started coverage on APA in a research report on Tuesday, August 5th. They issued an "equal weight" rating and a $24.00 price objective on the stock. Finally, Piper Sandler increased their price objective on APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Thursday, August 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. Based on data from MarketBeat, APA has a consensus rating of "Hold" and an average target price of $23.83.

APA Trading Up 0.6%

Shares of NASDAQ:APA traded up $0.14 during midday trading on Friday, hitting $23.12. The company had a trading volume of 1,954,170 shares, compared to its average volume of 7,876,676. 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 Corporation has a 12 month low of $13.58 and a 12 month high of $27.48. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 6.92 and a beta of 1.29. The firm has a fifty day simple moving average of $20.49 and a 200 day simple moving average of $18.94.

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 company had revenue of $2.18 billion for 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 last year, the firm posted $1.17 earnings per share. On average, analysts predict that APA Corporation will post 4.03 EPS for the current year.

APA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, October 22nd. APA's payout ratio is 33.44%.

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.