Brandywine Global Investment Management LLC Has $7.43 Million Position in APA Co. (NASDAQ:APA)

Brandywine Global Investment Management LLC reduced its stake in shares of APA Co. (NASDAQ:APA) by 7.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 206,134 shares of the company’s stock after selling 17,637 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in APA were worth $7,433,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in APA. Money Concepts Capital Corp raised its position in APA by 228.6% during the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock valued at $34,000 after acquiring an additional 503 shares in the last quarter. Achmea Investment Management B.V. raised its position in APA by 100.0% during the fourth quarter. Achmea Investment Management B.V. now owns 784 shares of the company’s stock valued at $34,000 after acquiring an additional 392 shares in the last quarter. Covestor Ltd raised its position in APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after acquiring an additional 437 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of APA in the first quarter valued at approximately $35,000. Finally, Scissortail Wealth Management LLC bought a new position in shares of APA in the first quarter valued at approximately $2,761,649,000. 80.48% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 0.5 %

APA opened at $45.30 on Tuesday. APA Co. has a fifty-two week low of $30.67 and a fifty-two week high of $50.58. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s fifty day moving average price is $39.72 and its two-hundred day moving average price is $36.49. The company has a market capitalization of $13.92 billion, a P/E ratio of 9.65, a P/E/G ratio of 8.82 and a beta of 3.53.

APA (NASDAQ:APA) last issued its earnings results on Thursday, August 3rd. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.66 by $0.19. APA had a net margin of 16.14% and a return on equity of 117.05%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company earned $2.37 EPS. The firm’s revenue for the quarter was down 41.2% compared to the same quarter last year. On average, analysts anticipate that APA Co. will post 4.29 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on APA. Jefferies Financial Group lifted their price target on shares of APA from $39.00 to $43.00 and gave the company a “hold” rating in a research report on Monday, August 28th. The Goldman Sachs Group lowered shares of APA from a “neutral” rating to a “sell” rating and set a $30.00 price target on the stock. in a research report on Wednesday, July 12th. Mizuho lifted their price target on shares of APA from $39.00 to $47.00 and gave the company an “underperform” rating in a research report on Wednesday, August 16th. Morgan Stanley lifted their price target on shares of APA from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, August 18th. Finally, Raymond James dropped their price target on shares of APA from $53.00 to $51.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and a consensus target price of $47.43.

APA Profile

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.