Northwestern Mutual Wealth Management Co. Buys 112,565 Shares of APA Corporation $APA

Northwestern Mutual Wealth Management Co. grew its stake in APA Corporation (NASDAQ:APA) by 4,810.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,905 shares of the company’s stock after buying an additional 112,565 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in APA were worth $3,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management raised its holdings in APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in APA in the first quarter valued at $28,000. Compass Financial Management LLC bought a new position in shares of APA in the 2nd quarter worth about $33,000. MidFirst Bank bought a new position in shares of APA in the 2nd quarter worth about $33,000. Finally, Global Assets Advisory LLC acquired a new position in shares of APA in the 1st quarter valued at about $44,000. 83.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

APA has been the subject of several research analyst reports. Roth Capital set a $39.00 price objective on shares of APA in a research note on Thursday, August 6th. Susquehanna raised their price target on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Raymond James Financial upped their price objective on shares of APA from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group cut their price objective on shares of APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, Stephens raised their target price on APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. Nine research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.68.

APA Stock Performance

Shares of APA stock opened at $44.18 on Friday. APA Corporation has a 12 month low of $21.57 and a 12 month high of $45.66. The firm has a market capitalization of $15.48 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.81 and a beta of 0.37. The firm has a fifty day simple moving average of $37.62 and a two-hundred day simple moving average of $36.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA) last issued its quarterly earnings data 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). APA had a net margin of 19.48% and a return on equity of 24.84%. 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. Analysts forecast that APA Corporation will post 5.54 EPS for the current fiscal 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.