872,996 Shares in APA Corporation $APA Bought by Empowered Funds LLC

Empowered Funds LLC purchased a new stake in APA Corporation (NASDAQ:APA) during the second quarter, according to its most recent filing with the SEC. The fund purchased 872,996 shares of the company’s stock, valued at approximately $28,433,000. Empowered Funds LLC owned about 0.25% of APA as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of APA in the second quarter worth about $1,173,231,000. Dimensional Fund Advisors LP boosted its stake in APA by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,376,952 shares of the company’s stock valued at $695,099,000 after buying an additional 1,055,016 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in APA by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock valued at $359,807,000 after buying an additional 285,542 shares during the last quarter. Morgan Stanley grew its holdings in APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock valued at $255,010,000 after buying an additional 1,864,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in APA by 76.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after buying an additional 3,117,032 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Up 2.9%

NASDAQ APA opened at $42.38 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $36.61 and a two-hundred day moving average of $36.28. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.74 and a beta of 0.35. APA Corporation has a 52 week low of $21.57 and a 52 week high of $45.66.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share 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 for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm earned $0.87 EPS. On average, analysts predict that APA Corporation will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein upped their price target on shares of APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, May 20th. Capital One Financial lifted their price objective on shares of APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. KeyCorp set a $46.00 target price on shares of APA in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of APA from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Citigroup increased their price target on shares of APA from $38.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Ten investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.50.

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.