Teza Capital Management LLC Invests $765,000 in APA Corporation $APA

Key Points

• Teza Capital Management LLC has invested approximately $765,000 to acquire a new stake in APA Corporation, purchasing 36,396 shares during the first quarter.
• Institutional investors and hedge funds collectively own 83.01% of APA Corporation's stock, reflecting significant interest in the company from multiple financial entities.
• APA Corporation reported earnings of $0.87 per share for the most recent quarter, exceeding analyst expectations of $0.45, despite a 14.4% year-over-year decline in revenue.

Teza Capital Management LLC bought a new stake in APA Corporation (NASDAQ:APA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,396 shares of the company's stock, valued at approximately $765,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after buying an additional 1,029,961 shares during the period. Harris Associates L P lifted its holdings in APA by 1.9% in the first quarter. Harris Associates L P now owns 25,708,527 shares of the company's stock valued at $540,393,000 after buying an additional 488,530 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after buying an additional 1,046,893 shares during the period. Dimensional Fund Advisors LP lifted its holdings in APA by 46.8% in the first 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in APA by 29.1% in the fourth 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 period. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Trading Down 2.9%

APA opened at $22.75 on Friday. APA Corporation has a 1-year low of $13.58 and a 1-year high of $27.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.14 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 6.76 and a beta of 1.29. The company has a fifty day moving average price of $20.21 and a two-hundred day moving average price of $18.92.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating 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 firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The business's revenue was down 14.4% compared to the same quarter last year. Analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on APA. Mizuho dropped their target price on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a report on Tuesday, May 13th. Roth Capital lowered shares of APA from a "buy" rating to a "neutral" rating and set a $22.00 target price on the stock. in a report on Wednesday, August 13th. UBS Group boosted their target price on shares of APA from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company lifted their price target on shares of APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, APA presently has an average 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.

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