Sciencast Management LP Makes New Investment in APA Corporation $APA

Key Points

• Sciencast Management LP has invested $2.23 million in APA Corporation, acquiring 105,898 shares in the 1st quarter, according to recent SEC filings.
• A majority of APA's stock, approximately 83.01%, is owned by hedge funds and institutional investors, with several firms significantly increasing their stakes during the same period.
• APA Corporation reported $0.87 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.45, although its revenue decreased by 14.4% year-over-year.

Sciencast Management LP purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 105,898 shares of the company's stock, valued at approximately $2,226,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. increased its stake in APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new stake in APA during the fourth quarter worth about $42,000. LRI Investments LLC acquired a new stake in APA during the fourth quarter worth about $44,000. Finally, SVB Wealth LLC acquired a new stake in APA during the first quarter worth about $55,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APA has been the subject of several research analyst reports. Piper Sandler upped their price target on APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Barclays upped 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. Wells Fargo & Company upped their target price on APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, August 15th. Argus raised APA to a "hold" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group upped their target price on APA from $17.00 to $19.00 and gave the stock a "sell" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $23.83.

APA Stock Down 0.6%

APA traded down $0.14 on Friday, reaching $22.84. The company's stock had a trading volume of 4,928,242 shares, compared to its average volume of 6,027,011. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 6.58 and a beta of 1.29. APA Corporation has a 1 year low of $13.58 and a 1 year high of $27.48. 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 business's 50 day moving average is $20.56 and its 200 day moving average is $18.92.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly 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 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%.APA's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.17 earnings per share. As a group, research analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 4.4%. APA's dividend payout ratio is currently 33.44%.

About APA

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.