Wedmont Private Capital Has $915,000 Stock Position in APA Corporation $APA

Wedmont Private Capital lifted its stake in APA Corporation (NASDAQ:APA) by 180.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,350 shares of the company’s stock after purchasing an additional 17,599 shares during the period. Wedmont Private Capital’s holdings in APA were worth $915,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Hollencrest Capital Management grew its position in shares of APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new stake in shares of APA in the 1st quarter valued at approximately $28,000. Compass Financial Management LLC acquired a new stake in shares of APA in the 2nd quarter valued at approximately $33,000. MidFirst Bank bought a new position in APA during the 2nd quarter worth approximately $33,000. Finally, Global Assets Advisory LLC bought a new position in APA during the 1st quarter worth approximately $44,000. 83.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APA shares. Barclays lowered their target price on shares of APA from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Monday, August 17th. Wells Fargo & Company lifted their price target on shares of APA from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. BMO Capital Markets decreased their price target on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a report on Wednesday, May 13th. Argus upgraded shares of APA from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, August 19th. Finally, Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Nine analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.07.

APA Stock Performance

Shares of APA opened at $43.55 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA Corporation has a twelve month low of $21.57 and a twelve month high of $45.66. The firm’s 50 day moving average price is $38.24 and its two-hundred day moving average price is $37.17. The firm has a market cap of $15.26 billion, a P/E ratio of 9.21, a PEG ratio of 0.75 and a beta of 0.37.

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 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 company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $0.87 EPS. On average, analysts forecast that APA Corporation will post 5.7 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.