APA Corporation $APA Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of APA Corporation (NASDAQ:APA) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,946 shares of the company’s stock after selling 2,595 shares during the period. Corebridge Financial Inc.’s holdings in APA were worth $1,786,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in APA. Full Sail Capital LLC acquired a new stake in APA in the first quarter valued at $752,000. Comerica Bank raised its holdings in APA by 0.7% in the first quarter. Comerica Bank now owns 89,616 shares of the company’s stock valued at $1,884,000 after acquiring an additional 644 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in APA in the first quarter valued at $279,000. Jump Financial LLC raised its holdings in APA by 409.4% in the first quarter. Jump Financial LLC now owns 550,770 shares of the company’s stock valued at $11,577,000 after acquiring an additional 442,640 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock valued at $765,964,000 after acquiring an additional 1,029,961 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 2.7%

APA stock opened at $23.84 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a 1-year low of $13.58 and a 1-year high of $27.95. The firm has a fifty day moving average price of $19.93 and a two-hundred day moving average price of $18.93. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 6.91 and a beta of 1.29.

APA (NASDAQ:APA) last released 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Research analysts predict that APA Corporation will post 4.03 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on APA. The Goldman Sachs Group upped their price target on shares of APA from $17.00 to $19.00 and gave the company a “sell” rating in a report on Tuesday, August 26th. Cowen reaffirmed a “hold” rating on shares of APA in a report on Thursday, August 7th. 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. Morgan Stanley boosted their target price on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, August 18th. Finally, Argus upgraded shares of APA to a “hold” rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $23.72.

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.