Versor Investments LP Makes New $2.01 Million Investment in APA Corporation $APA

Key Points

• Versor Investments LP acquired a new stake in APA Corporation, purchasing 95,800 shares valued at approximately $2,014,000.
• A significant number of institutional investors hold APA, with 83.01% of the stock owned by such entities, while other hedge funds have also increased their stakes substantially in the first quarter.
• Wall Street analysts have mixed views on APA, with a consensus rating of "Hold" and an average target price of $23.61 amidst various changes in analyst ratings and price objectives.

Versor Investments LP acquired a new stake in shares of APA Corporation (NASDAQ:APA - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 95,800 shares of the company's stock, valued at approximately $2,014,000.

Several other institutional investors have also bought and sold shares of APA. Raymond James Financial Inc. lifted its holdings in shares of APA by 2.0% during the first quarter. Raymond James Financial Inc. now owns 641,750 shares of the company's stock valued at $13,490,000 after acquiring an additional 12,746 shares during the period. American Century Companies Inc. raised its holdings in shares of APA by 5.1% in the first quarter. American Century Companies Inc. now owns 733,038 shares of the company's stock valued at $15,408,000 after buying an additional 35,814 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 2,894,543 shares in the last quarter. KLCM Advisors Inc. raised its stake in shares of APA by 51.5% in the first quarter. KLCM Advisors Inc. now owns 1,054,145 shares of the company's stock worth $22,158,000 after acquiring an additional 358,121 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of APA in the first quarter worth about $1,796,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APA shares. Cowen reissued a "hold" rating on shares of APA in a research note on Thursday, August 7th. Piper Sandler lifted their target price on shares of APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Barclays raised their price target on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. UBS Group upped their price objective on APA from $21.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th. Three equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, APA has an average rating of "Hold" and a consensus price target of $23.94.

APA Price Performance

NASDAQ:APA traded up $0.10 during trading hours on Wednesday, reaching $20.34. 4,991,307 shares of the company were exchanged, compared to its average volume of 8,040,693. The business has a 50 day moving average of $19.45 and a 200 day moving average of $18.94. APA Corporation has a 1-year low of $13.58 and a 1-year high of $29.47. 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 market capitalization of $7.28 billion, a P/E ratio of 6.80, a P/E/G ratio of 6.20 and a beta of 1.23.

APA (NASDAQ:APA - Get Free Report) last released its earnings results 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 return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the company earned $1.17 earnings per share. The company's quarterly revenue was down 14.4% on a year-over-year basis. Research analysts forecast that APA Corporation will post 4.03 EPS for the current 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.