APA Corporation $APA Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its holdings in APA Corporation by 53.7%, now owning 49,636 shares worth $1.04 million after selling 57,578 shares in the first quarter.
• The company's latest earnings report showed $0.87 earnings per share (EPS), surpassing estimates of $0.45, with a revenue of $2.18 billion, though down 14.4% compared to the previous year.
• Majorities of APA's stock (83.01%) are controlled by institutional investors, reflecting significant investor interest despite mixed ratings from analysts.

Wellington Management Group LLP decreased its holdings in APA Corporation (NASDAQ:APA - Free Report) by 53.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,636 shares of the company's stock after selling 57,578 shares during the quarter. Wellington Management Group LLP's holdings in APA were worth $1,043,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 2,894,543 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in APA by 29.1% during 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 worth $122,328,000 after buying an additional 1,195,212 shares during the period. Nuveen LLC purchased a new position in APA in the first quarter valued at about $22,533,000. Charles Schwab Investment Management Inc. lifted its position in shares of APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after acquiring an additional 1,046,893 shares during the period. Finally, Worldquant Millennium Advisors LLC purchased a new stake in shares of APA during the 4th quarter worth approximately $19,796,000. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Trading Down 4.9%

Shares of APA stock traded down $1.16 during trading hours on Wednesday, reaching $22.68. 8,307,632 shares of the company's stock were exchanged, compared to its average volume of 7,944,046. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 6.91 and a beta of 1.29. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a 52-week low of $13.58 and a 52-week high of $27.48. The company has a fifty day moving average of $19.93 and a 200-day moving average of $18.93.

APA (NASDAQ:APA - Get Free Report) last released its 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. 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 analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The business's quarterly revenue was down 14.4% compared to the same quarter last year. Sell-side analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on APA shares. Stephens assumed coverage on APA in a research report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 target price on the stock. Citigroup boosted their price objective on shares of APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. The Goldman Sachs Group raised their target price on shares of APA from $17.00 to $19.00 and gave the company a "sell" rating in a report on Tuesday, August 26th. Morgan Stanley upped their price target on shares of APA from $22.00 to $23.00 and gave the company an "underweight" rating in a report on Monday, August 18th. Finally, Cowen reissued a "hold" rating on shares of APA in a research note on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $23.72.

APA Company 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.