Gotham Asset Management LLC Acquires 443,838 Shares of APA Corporation $APA

Gotham Asset Management LLC lifted its holdings in shares of APA Corporation (NASDAQ:APA) by 505.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 531,571 shares of the company’s stock after purchasing an additional 443,838 shares during the quarter. Gotham Asset Management LLC owned 0.15% of APA worth $11,174,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APA. AQR Capital Management LLC boosted its position in shares of APA by 16.1% during the 1st quarter. AQR Capital Management LLC now owns 1,190,244 shares of the company’s stock worth $24,888,000 after acquiring an additional 165,164 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of APA by 160.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,580 shares of the company’s stock worth $117,000 after acquiring an additional 3,441 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of APA during the 1st quarter worth approximately $17,129,000. Harris Associates L P boosted its position in shares of APA by 1.9% during the 1st quarter. Harris Associates L P now owns 25,708,527 shares of the company’s stock worth $540,393,000 after acquiring an additional 488,530 shares in the last quarter. Finally, Quarry LP boosted its position in shares of APA by 38.9% during the 1st quarter. Quarry LP now owns 5,409 shares of the company’s stock worth $114,000 after acquiring an additional 1,515 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on APA shares. Scotiabank reiterated a “sector perform” rating and set a $22.00 price target (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. UBS Group increased their price target on shares of APA from $21.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Royal Bank Of Canada cut their target price on shares of APA from $24.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their target price on shares of APA from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Raymond James Financial restated an “outperform” rating and issued a $26.00 target price (up previously from $25.00) on shares of APA in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.72.

APA Stock Performance

Shares of APA stock opened at $22.75 on Friday. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.48. 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 firm has a market capitalization of $8.14 billion, a P/E ratio of 7.61, a P/E/G ratio of 6.76 and a beta of 1.29. The company’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $18.92.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (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 the consensus estimate of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities analysts forecast that APA Corporation will post 4.03 earnings per share for the current fiscal year.

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.