Y Intercept Hong Kong Ltd Acquires 252,009 Shares of APA Corporation $APA

Y Intercept Hong Kong Ltd lifted its holdings in APA Corporation (NASDAQ:APA) by 308.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,685 shares of the company’s stock after buying an additional 252,009 shares during the period. Y Intercept Hong Kong Ltd’s holdings in APA were worth $6,103,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in APA by 2.9% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock valued at $765,964,000 after purchasing an additional 1,029,961 shares during the last quarter. Harris Associates L P grew its holdings in APA by 1.9% during the 1st quarter. Harris Associates L P now owns 25,708,527 shares of the company’s stock valued at $540,393,000 after purchasing an additional 488,530 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock valued at $292,871,000 after purchasing an additional 1,046,893 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in APA by 46.8% during the 1st 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 last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after purchasing an additional 806,252 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

APA Price Performance

NASDAQ APA opened at $23.34 on Tuesday. 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’s 50 day moving average price is $23.24 and its 200-day moving average price is $19.93. APA Corporation has a 52-week low of $13.58 and a 52-week high of $25.83. The company has a market cap of $8.35 billion, a PE ratio of 7.81, a P/E/G ratio of 6.64 and a beta of 1.16.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.17 earnings per share. The company’s quarterly revenue was down 14.4% on a year-over-year basis. Sell-side analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. APA’s dividend payout ratio (DPR) is currently 33.44%.

Analyst Upgrades and Downgrades

APA has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Tuesday, October 14th. Evercore ISI upped their price target on shares of APA from $16.00 to $21.00 in a report on Monday. Barclays upped their price target on shares of APA from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, August 8th. Scotiabank upped their target price on shares of APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Finally, Piper Sandler upped their target price on shares of APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.63.

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.