APA Corporation $APA Shares Sold by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC has reduced its stake in APA Corporation by 36.1%, now holding 378,566 shares valued at approximately $7.96 million.
• Institutional investors collectively own 83.01% of APA Corporation's stock, with several hedge funds significantly increasing their positions in the fourth quarter.
• APA reported $0.87 earnings per share for the most recent quarter, exceeding expectations, despite a 14.4% year-over-year decline in revenue.

Kettle Hill Capital Management LLC decreased its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 36.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 378,566 shares of the company's stock after selling 213,568 shares during the period. APA accounts for about 2.2% of Kettle Hill Capital Management LLC's portfolio, making the stock its 18th largest holding. Kettle Hill Capital Management LLC owned 0.10% of APA worth $7,957,000 as of its most recent filing with the SEC.

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

APA Price Performance

Shares of APA stock traded down $0.60 during trading hours on Tuesday, hitting $21.66. 6,763,088 shares of the company's stock were exchanged, compared to its average volume of 7,914,252. The firm has a 50 day moving average of $20.29 and a two-hundred day moving average of $18.89. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.75 billion, a P/E ratio of 7.24, a P/E/G ratio of 6.76 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last issued its 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The company's revenue for the quarter was down 14.4% on a year-over-year basis. During the same period last year, the company earned $1.17 EPS. Sell-side analysts forecast that APA Corporation will post 4.03 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on APA. The Goldman Sachs Group lifted their target price on shares of APA from $17.00 to $19.00 and gave the stock a "sell" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their target price on shares of APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company increased their price objective 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. Mizuho lowered their target price on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler increased their price objective on shares of APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.