Quantbot Technologies LP purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,238 shares of the company's stock, valued at approximately $467,000.
Several other hedge funds also recently made changes to their positions in APA. Charles Schwab Investment Management Inc. lifted its position in shares of APA by 8.1% in 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock valued at $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 increased its stake in APA by 29.1% in 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 valued at $122,328,000 after buying an additional 1,195,212 shares during the last quarter. Northern Trust Corp lifted its position in APA by 7.2% during the 4th quarter. Northern Trust Corp now owns 4,025,421 shares of the company's stock worth $92,947,000 after buying an additional 269,865 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in APA by 41.0% during the 4th quarter. Deutsche Bank AG now owns 1,848,470 shares of the company's stock worth $42,681,000 after buying an additional 537,943 shares in the last quarter. 83.01% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Piper Sandler raised their price objective on APA from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Wells Fargo & Company increased their price target on APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Citigroup raised their price target on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. UBS Group boosted their price target on APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, Scotiabank reissued a "sector perform" rating and issued a $22.00 price objective (up previously from $14.00) on shares of APA in a report on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $23.72.
Read Our Latest Stock Report on APA
APA Stock Performance
APA traded up $0.24 during trading on Friday, hitting $23.22. The stock had a trading volume of 5,660,800 shares, compared to its average volume of 7,316,170. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day moving average price of $19.72 and a 200-day moving average price of $18.90. APA Corporation has a one year low of $13.58 and a one year high of $29.47. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 7.77, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The business's revenue was down 14.4% on a year-over-year basis. As a group, research analysts predict that APA Corporation will post 4.03 EPS for the current year.
APA Company Profile
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Free Report)
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.
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