Paradigm Capital Management LLC NV Acquires New Stake in APA Corporation $APA

Paradigm Capital Management LLC NV bought a new stake in shares of APA Corporation (NASDAQ:APA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,375 shares of the company’s stock, valued at approximately $403,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in APA in the 2nd quarter worth about $1,173,231,000. Arrowstreet Capital Limited Partnership raised its stake in shares of APA by 1,726.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock valued at $205,176,000 after acquiring an additional 4,569,779 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of APA during the second quarter valued at approximately $134,558,000. Goldman Sachs Group Inc. boosted its holdings in shares of APA by 76.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after purchasing an additional 3,117,032 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after purchasing an additional 1,869,891 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Down 1.0%

Shares of NASDAQ APA opened at $42.96 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $15.05 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.78 and a beta of 0.35. The stock’s fifty day simple moving average is $36.14 and its two-hundred day simple moving average is $35.98. APA Corporation has a 12-month low of $21.47 and a 12-month high of $45.66.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, analysts expect that APA Corporation will post 5.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Zacks Research downgraded APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on APA from $38.00 to $41.00 in a report on Friday, May 8th. BMO Capital Markets dropped their price target on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Barclays cut their price target on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. Finally, The Goldman Sachs Group decreased their price objective on APA from $34.00 to $32.00 and set a “sell” rating for the company in a report on Tuesday, June 30th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $41.50.

APA Company 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.