Quantbot Technologies LP Makes New $1.90 Million Investment in APA Corporation $APA

Key Points

• Quantbot Technologies LP purchased 58,431 shares of APA Corporation during the second quarter, worth approximately $1.90 million. Institutional investors and hedge funds collectively own 83.01% of APA’s stock.
• APA reported quarterly revenue of $2.37 billion and earnings of $1.89 per share, narrowly missing analyst estimates of $2.46 billion and $1.90 per share, respectively.
• APA shares opened at $42.96, near their 52-week high of $45.66, while analysts maintain an overall “Hold” rating with an average price target of $41.50.

Quantbot Technologies LP purchased a new stake in APA Corporation (NASDAQ:APA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 58,431 shares of the company's stock, valued at approximately $1,903,000.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management raised its holdings in shares of APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after buying an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in APA in the 1st quarter valued at $28,000. Summit Securities Group LLC boosted its stake in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock valued at $32,000 after buying an additional 710 shares in the last quarter. MidFirst Bank bought a new stake in APA in the second quarter valued at $33,000. Finally, Gables Capital Management Inc. bought a new stake in APA in the second quarter valued at $36,000. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Price Performance

APA stock opened at $42.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $15.05 billion, a P/E ratio of 9.08, a P/E/G ratio of 0.78 and a beta of 0.35. The business's fifty day moving average is $36.14 and its two-hundred day moving average is $35.98. APA Corporation has a 52 week low of $21.47 and a 52 week high of $45.66.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts forecast that APA Corporation will post 5.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

APA has been the subject of a number of analyst reports. Truist Financial lifted their price objective on APA from $38.00 to $39.00 and gave the company a "hold" rating in a report on Monday, August 10th. Roth Capital set a $39.00 target price on shares of APA in a report on Thursday, August 6th. Wall Street Zen upgraded shares of APA from a "hold" rating to a "buy" rating in a research report on Saturday. Morgan Stanley cut their price target on shares of APA from $44.00 to $41.00 and set an "underweight" rating for the company in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of APA from $38.00 to $41.00 in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $41.50.

APA Profile

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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