Vident Advisory LLC Acquires 19,834 Shares of APA Corporation $APA

Key Points

• Vident Advisory LLC increased its holdings in APA Corporation by 26.4%, now owning approximately 94,957 shares valued at about $1,996,000.
• Several institutional investors, including Dimensional Fund Advisors LP and Charles Schwab Investment Management, have also significantly increased their positions in APA during the first quarter.
• Current analyst ratings for APA show a mixed outlook, with three analysts rating it as Buy, fourteen as Hold, and three as Sell, resulting in an average price target of $23.72.

Vident Advisory LLC raised its stake in shares of APA Corporation (NASDAQ:APA - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,957 shares of the company's stock after buying an additional 19,834 shares during the period. Vident Advisory LLC's holdings in APA were worth $1,996,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC raised its stake 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 acquiring an additional 1,382 shares in the last quarter. Rakuten Securities Inc. boosted its position 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 purchasing an additional 1,288 shares during the period. Siemens Fonds Invest GmbH acquired a new position in APA during the fourth quarter valued at approximately $42,000. LRI Investments LLC bought a new position in shares of APA in the fourth quarter valued at approximately $44,000. Finally, SVB Wealth LLC acquired a new stake in shares of APA in the first quarter worth $55,000. Institutional investors own 83.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APA. Piper Sandler raised their target price on shares of APA from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. UBS Group raised their price target on APA from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Cfra Research upgraded APA to a "hold" rating in a research note on Friday, August 8th. Royal Bank Of Canada decreased their target price on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Monday, July 14th. Finally, The Goldman Sachs Group raised their target price on APA from $17.00 to $19.00 and gave the company a "sell" rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, APA has an average rating of "Hold" and a consensus target price of $23.72.

APA Stock Performance

APA stock traded down $0.69 during trading on Friday, reaching $22.75. 5,994,228 shares of the stock were exchanged, compared to its average volume of 5,923,847. APA Corporation has a twelve month low of $13.58 and a twelve month 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 capitalization 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 stock has a 50 day simple moving average of $20.21 and a 200-day simple moving average of $18.89.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.45 by $0.42. The firm had revenue of $2.18 billion during 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%.The company's revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 EPS. As a group, sell-side analysts anticipate that APA Corporation will post 4.03 earnings per share 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.