Core Capital Management & Research inc. Buys Shares of 178,078 APA Corporation $APA

Core Capital Management & Research inc. purchased a new position in shares of APA Corporation (NASDAQ:APA) in the second quarter, HoldingsChannel reports. The fund purchased 178,078 shares of the company’s stock, valued at approximately $5,800,000. APA comprises about 3.0% of Core Capital Management & Research inc.’s portfolio, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Two Sigma Securities LLC bought a new position in APA in the second quarter valued at $835,000. Thrivent Financial for Lutherans lifted its position in APA by 85.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after buying an additional 37,180 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in APA by 20.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock worth $4,723,000 after buying an additional 32,357 shares in the last quarter. Prudential PLC boosted its stake in shares of APA by 753.2% during the 4th quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after buying an additional 120,717 shares during the last quarter. Finally, Hoertkorn Richard Charles bought a new position in shares of APA in the 1st quarter valued at about $2,429,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APA has been the topic of several analyst reports. Mizuho upgraded APA to a “strong sell” rating in a report on Friday, July 31st. KeyCorp set a $46.00 price target on APA in a research report on Wednesday, August 12th. Susquehanna increased their price objective on APA from $45.00 to $47.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Truist Financial upped their price target on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, August 10th. Nine research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.76.

APA Stock Up 3.0%

APA opened at $44.84 on Thursday. APA Corporation has a 1-year low of $21.57 and a 1-year high of $45.66. The stock’s fifty day simple moving average is $38.49 and its 200 day simple moving average is $37.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.71 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 0.76 and a beta of 0.37.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm earned $0.87 earnings per share. As a group, research analysts expect that APA Corporation will post 5.7 earnings per share for the current year.

About APA

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.