Penn Capital Management Company LLC Has $1.01 Million Stock Holdings in APA Corporation $APA

Penn Capital Management Company LLC trimmed its position in APA Corporation (NASDAQ:APA) by 28.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,676 shares of the company’s stock after selling 12,331 shares during the quarter. Penn Capital Management Company LLC’s holdings in APA were worth $1,008,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of APA during the 2nd quarter worth $1,173,231,000. Dimensional Fund Advisors LP raised 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 worth $695,099,000 after acquiring an additional 1,055,016 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of APA by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock worth $359,807,000 after acquiring an additional 285,542 shares during the last quarter. Morgan Stanley lifted its holdings in shares of APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after acquiring an additional 1,864,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of APA by 76.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on APA shares. BMO Capital Markets lowered their price objective on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday, May 13th. Capital One Financial raised their target price on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Roth Capital set a $39.00 target price on shares of APA in a research note on Thursday, August 6th. Sanford C. Bernstein upped their price target on shares of APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, May 20th. Finally, KeyCorp set a $46.00 price target on APA in a research note on Wednesday, August 12th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.50.

APA Stock Up 0.4%

Shares of NASDAQ APA opened at $42.54 on Friday. The company has a 50 day simple moving average of $36.80 and a 200 day simple moving average of $36.33. The firm has a market cap of $14.90 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. APA Corporation has a 1 year low of $21.57 and a 1 year high of $45.66. 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 posted its earnings results on Wednesday, August 5th. The company reported $1.89 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 business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, research analysts forecast that APA Corporation will post 5.54 EPS for the current year.

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.