Penn Capital Management Company LLC Sells 12,331 Shares of APA Corporation $APA

Penn Capital Management Company LLC reduced its stake in APA Corporation (NASDAQ:APA) by 28.7% during the second quarter, Holdings Channel.com reports. The fund owned 30,676 shares of the company’s stock after selling 12,331 shares during the period. Penn Capital Management Company LLC’s holdings in APA were worth $1,008,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in APA. Thrivent Financial for Lutherans boosted its stake in shares of APA by 85.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock valued at $1,976,000 after purchasing an additional 37,180 shares during the last quarter. Prudential PLC raised its stake in APA by 753.2% during the fourth quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after buying an additional 120,717 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in APA by 20.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock worth $4,723,000 after buying an additional 32,357 shares during the last quarter. Hoertkorn Richard Charles acquired a new position in APA in the first quarter valued at $2,429,000. Finally, Jupiter Asset Management Ltd. acquired a new position in APA in the fourth quarter valued at $19,968,000. 83.01% of the stock is currently owned by institutional investors.

APA Stock Performance

Shares of APA opened at $42.54 on Friday. APA Corporation has a one year low of $21.57 and a one year high of $45.66. The company has a market cap of $14.90 billion, a PE ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. The stock has a 50-day moving average of $36.80 and a 200-day moving average of $36.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.

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 the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.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 previous year, the company posted $0.87 EPS. On average, equities research analysts predict that APA Corporation will post 5.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APA. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Truist Financial boosted their price objective on APA from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Weiss Ratings upgraded APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Barclays cut their target price on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Finally, Morgan Stanley decreased their target price on APA from $44.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, June 26th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.