APA Corporation

NASDAQ Global Select
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Slightly Bullish +15

Empyrean Capital Partners LP Invests $6.03 Million in APA Corporation ...

AI-generated analysis

📈 Empyrean Capital Partners LP purchased 142,000 shares of APA stock valued at approximately $6.03 million in the first quarter.

🏦 Lazard Asset Management LLC established a new stake worth about $20.595 million, while Quantinno Capital increased its position by 5.1%.

📉 VP Mark D. Maddox sold 9,800 shares in May for a total value of $392,392, reducing his personal ownership by 12.79%.

💰 APA reported quarterly EPS of $1.38, beating the consensus estimate of $1.11, with revenue reaching $2.33 billion.

📉 Revenue for the quarter decreased by 11.7% compared to the same period in the previous year.

🎯 Sanford Bernstein raised its price objective from $37.00 to $40.00 and maintained a 'market perform' rating.

📉 UBS Group lowered its target price on APA from $45.00 to $41.00 with a 'neutral' rating.

💵 The company declared a quarterly dividend of $0.25 per share, payable on August 21st to stockholders of record on July 22nd.

📊 APA has a market capitalization of $12.28 billion and a PE ratio of 8.10 as of the latest data.

🌍 The company operates primarily in the Permian Basin, with significant assets also located in Egypt and the North Sea.

📉 Susquehanna reduced its price target from $47.00 to $45.00 while maintaining a 'positive' rating.

📈 Wells Fargo & Company raised its target price from $21.00 to $39.00 with an 'equal weight' rating.

Bullish Signals
  • APA beat quarterly EPS estimates significantly, reporting $1.38 per share against a consensus of $1.11.
  • Revenue of $2.33 billion exceeded analyst expectations of $2.13 billion for the quarter.
  • The company maintains a healthy dividend yield of 2.9% with an annualized payout of $1.00.
  • Sanford Bernstein increased its price target to $40.00, reflecting confidence in the stock's valuation.
  • Wells Fargo raised its price target substantially from $21.00 to $39.00.
  • Institutional ownership remains robust at 83.01%, indicating strong investor interest.
  • The company holds substantial acreage in the Permian Basin, its largest operational region.
Risk Factors
  • Quarterly revenue declined by 11.7% compared to the same quarter in the previous year.
  • UBS Group lowered its price target from $45.00 to $41.00 with a neutral rating.
  • Susquehanna reduced its price target from $47.00 to $45.00, though it maintained a positive rating.
  • The stock trades below its 52-week high of $45.66 and is currently near its 50-day moving average.
Full Analysis
Empyrean Capital Partners LP acquired a new stake in APA Corporation (NASDAQ:APA) worth approximately $6.03 million during the first quarter, purchasing 142,000 shares. Other institutional investors also adjusted their positions, with Lazard Asset Management adding a $20.595 million stake and Quantinno Capital increasing holdings by 5.1%. Institutional ownership remains high at 83.01%, while VP Mark D. Maddox sold 9,800 shares in May. Analyst sentiment is mixed but generally neutral to positive regarding the stock's valuation. Sanford Bernstein raised its price target to $40.00 with a 'market perform' rating, and Wells Fargo increased its target to $39.00. Conversely, UBS lowered its target to $41.00, and Susquehanna reduced its target to $45.00. The consensus rating is 'Hold' with an average price target of $40.35. Financially, APA reported strong quarterly earnings in May, beating EPS estimates of $1.11 with a result of $1.38 and revenue of $2.33 billion against expectations of $2.13 billion. The company maintains a market cap of $12.28 billion, a PE ratio of 8.10, and a dividend yield of 2.9%. However, quarterly revenue declined 11.7% year-over-year. APA Corporation operates as an independent exploration and production company focused on oil and natural gas resources across the United States, Egypt, and the North Sea. Its largest asset is in the Permian Basin of West Texas and southeastern New Mexico. The stock currently trades near its 50-day moving average with a 52-week range between $17.86 and $45.66.