FORA Capital LLC Takes Position in APA Corporation $APA

FORA Capital LLC bought a new stake in APA Corporation (NASDAQ:APA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 48,397 shares of the company’s stock, valued at approximately $1,017,000.

A number of other institutional investors have also modified their holdings of APA. Dimensional Fund Advisors LP increased its holdings in shares of APA by 46.8% in the first 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 during the period. Freestone Grove Partners LP acquired a new position in shares of APA in the fourth quarter valued at approximately $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of APA by 29.1% in 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 valued at $122,328,000 after purchasing an additional 1,195,212 shares during the period. Nuveen LLC acquired a new position in shares of APA in the first quarter valued at approximately $22,533,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in APA by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after acquiring an additional 1,046,893 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Up 2.1%

APA stock opened at $22.59 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 6.51 and a beta of 1.23. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $29.47. The stock’s fifty day moving average is $19.60 and its two-hundred day moving average is $18.95.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.42. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.APA’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. Analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on APA. Barclays upped their price objective on APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Roth Capital lowered APA from a “buy” rating to a “neutral” rating and set a $22.00 price objective on the stock. in a report on Wednesday, August 13th. Citigroup upped their price objective on APA from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Cowen reaffirmed a “hold” rating on shares of APA in a report on Thursday, August 7th. Finally, Mizuho dropped their price objective on APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a report on Tuesday, May 13th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.