13,275 Shares in APA Corporation $APA Bought by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC has acquired a new position in APA Corporation, purchasing 13,275 shares for approximately $279,000 during the first quarter.
• Several hedge funds have significantly increased their holdings in APA, with Jump Financial LLC even boosting its stake by 409.4%.
• The stock currently has an average rating of "Hold" from analysts, with a price target range of $20.00 to $24.00.

Quantitative Investment Management LLC purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,275 shares of the company's stock, valued at approximately $279,000.

A number of other institutional investors also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its holdings in shares of APA by 2,709.8% in the 1st 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 during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of APA in the 4th quarter valued at about $42,000. LRI Investments LLC purchased a new stake in shares of APA in the 4th quarter valued at about $44,000. Finally, SVB Wealth LLC purchased a new stake in shares of APA in the 1st quarter valued at about $55,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APA has been the subject of several analyst reports. Morgan Stanley upped their price objective on APA from $22.00 to $23.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Raymond James Financial reiterated an "outperform" rating and set a $26.00 target price (up previously from $25.00) on shares of APA in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their target price on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Barclays boosted their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Argus upgraded APA to a "hold" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $23.72.

APA Price Performance

NASDAQ:APA traded up $0.24 during trading hours on Friday, reaching $23.22. 5,660,800 shares of the company traded hands, compared to its average volume of 7,316,170. The firm's 50-day moving average is $19.72 and its 200-day moving average is $18.90. The stock has a market cap of $8.31 billion, a P/E ratio of 7.77, a P/E/G ratio of 6.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. 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 announced its earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.APA's quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities research analysts expect that APA Corporation will post 4.03 earnings per share for the current fiscal year.

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.