Core Capital Management & Research inc. Makes New Investment in APA Corporation $APA

Core Capital Management & Research inc. purchased a new stake in shares of APA Corporation (NASDAQ:APA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 178,078 shares of the company’s stock, valued at approximately $5,800,000. APA accounts for approximately 3.0% of Core Capital Management & Research inc.’s portfolio, making the stock its 9th biggest holding. Core Capital Management & Research inc. owned about 0.05% of APA as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in APA during the second quarter worth approximately $835,000. Thrivent Financial for Lutherans lifted its stake in APA by 85.2% in the 4th 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. PNC Financial Services Group Inc. increased its holdings in shares of APA by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock valued at $4,723,000 after purchasing an additional 32,357 shares during the period. Prudential PLC lifted its position in APA by 753.2% in 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 in the last quarter. Finally, Hoertkorn Richard Charles purchased a new stake in shares of APA during the first quarter worth $2,429,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on APA. Wells Fargo & Company lifted their price objective on shares of APA from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 2nd. Weiss Ratings cut APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. Seaport Research Partners initiated coverage on shares of APA in a research report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Truist Financial boosted their price objective on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Finally, Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.76.

APA Stock Up 3.0%

Shares of APA stock opened at $44.84 on Thursday. 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 Corporation has a 12 month low of $21.57 and a 12 month high of $45.66. The business has a fifty day simple moving average of $38.49 and a 200 day simple moving average of $37.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

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 net margin of 19.48% and a return on equity of 24.84%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $0.87 EPS. Research analysts predict that APA Corporation will post 5.7 EPS 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.