Graham Capital Management L.P. Makes New $2.85 Million Investment in APA Co. (NASDAQ:APA)

Graham Capital Management L.P. bought a new stake in APA Co. (NASDAQ:APA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 123,525 shares of the company's stock, valued at approximately $2,852,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its stake in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock worth $27,000 after acquiring an additional 1,077 shares during the period. Riverview Trust Co increased its position in shares of APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company's stock worth $30,000 after buying an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB raised its stake in APA by 77.9% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock worth $31,000 after buying an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in APA in the fourth quarter valued at $35,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company's stock valued at $37,000 after buying an additional 780 shares during the period. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Stock Down 1.6%

Shares of NASDAQ:APA traded down $0.29 during midday trading on Wednesday, hitting $18.17. 8,022,290 shares of the company's stock were exchanged, compared to its average volume of 6,939,849. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50 day moving average price of $17.58 and a 200-day moving average price of $20.83. The company has a market cap of $6.57 billion, a PE ratio of 2.57 and a beta of 1.18. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41.

APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.83 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. The firm's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, sell-side analysts anticipate that APA Co. will post 4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of APA from $27.00 to $24.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group restated a "sell" rating and issued a $23.00 target price on shares of APA in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their target price on shares of APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Raymond James lowered shares of APA from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $45.00 to $32.00 in a report on Monday, March 10th. Finally, Barclays dropped their target price on shares of APA from $25.00 to $19.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.37.

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.