Patient Capital Management LLC Invests $1.15 Million in APA Co. (NASDAQ:APA)

Patient Capital Management LLC purchased a new stake in shares of APA Co. (NASDAQ:APA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $1,154,000.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. increased its position in shares of APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after purchasing an additional 1,077 shares during the period. Riverview Trust Co increased its position in shares of APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company's stock valued at $30,000 after purchasing an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock valued at $31,000 after purchasing an additional 586 shares during the period. Runnymede Capital Advisors Inc. acquired a new position in shares of APA during the 4th quarter valued at $35,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of APA by 93.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company's stock valued at $37,000 after purchasing an additional 780 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on APA shares. Susquehanna cut their target price on APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler cut their target price on APA from $22.00 to $19.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $23.00 target price on shares of APA in a research report on Wednesday, March 19th. Royal Bank of Canada cut their target price on APA from $27.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Finally, Barclays cut their target price on APA from $25.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Four research 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 data from MarketBeat.com, APA has a consensus rating of "Hold" and an average target price of $25.37.

APA Stock Down 1.0%

NASDAQ APA traded down $0.17 on Friday, reaching $17.59. The stock had a trading volume of 6,010,167 shares, compared to its average volume of 7,008,246. The business has a 50 day moving average price of $17.51 and a 200 day moving average price of $20.71. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA Co. has a 1 year low of $13.58 and a 1 year high of $33.41. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 2.48 and a beta of 1.18.

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

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.