16,535 Shares in APA Corporation $APA Bought by Applied Finance Capital Management LLC

Applied Finance Capital Management LLC bought a new position in APA Corporation (NASDAQ:APA) in the 4th quarter, Holdings Channel.com reports. The firm bought 16,535 shares of the company’s stock, valued at approximately $404,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Convergence Investment Partners LLC grew its position in APA by 5.7% in the fourth quarter. Convergence Investment Partners LLC now owns 64,083 shares of the company’s stock worth $1,567,000 after acquiring an additional 3,475 shares in the last quarter. Thrivent Financial for Lutherans grew its position in APA by 85.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after acquiring an additional 37,180 shares in the last quarter. Baader Bank Aktiengesellschaft grew its position in APA by 9.4% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 25,700 shares of the company’s stock worth $608,000 after acquiring an additional 2,200 shares in the last quarter. West Tower Group LLC purchased a new position in APA in the fourth quarter worth $281,000. Finally, Bailard Inc. purchased a new position in APA in the fourth quarter worth $411,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the sale, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

APA Price Performance

Shares of APA opened at $38.98 on Friday. The company has a market capitalization of $13.78 billion, a P/E ratio of 9.09 and a beta of 0.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $38.17 and a 200 day moving average of $30.03. APA Corporation has a twelve month low of $16.15 and a twelve month high of $45.66.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.27. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, equities research analysts anticipate that APA Corporation will post 5.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on APA shares. TD Cowen upgraded shares of APA to a “hold” rating in a research report on Monday, February 9th. Wall Street Zen raised APA from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada raised their price objective on shares of APA from $29.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 8th. Stephens raised their price objective on shares of APA from $24.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. Finally, Jefferies Financial Group raised their target price on shares of APA from $26.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.81.

APA Profile

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.