Northwestern Mutual Wealth Management Co. Has $3.74 Million Stock Position in APA Corporation $APA

Key Points

• Northwestern Mutual Wealth Management increased its APA Corporation holdings by 4,810.5% in the second quarter, bringing its position to 114,905 shares valued at approximately $3.74 million.
• Analysts remain broadly cautious: APA has an overall “Hold” consensus rating and a $41.68 average price target, despite several analysts recently raising their targets.
• APA reported quarterly earnings of $1.89 per share and revenue of $2.37 billion, slightly below analyst expectations, while the stock opened at $44.18 and has traded between $21.57 and $45.66 over the past year.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of APA Corporation (NASDAQ:APA - Free Report) by 4,810.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,905 shares of the company's stock after purchasing an additional 112,565 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in APA were worth $3,742,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Hollencrest Capital Management raised its holdings 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 in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in APA in the first quarter valued at about $28,000. Compass Financial Management LLC acquired a new stake in APA in the second quarter valued at about $33,000. MidFirst Bank acquired a new stake in APA in the second quarter valued at about $33,000. Finally, Global Assets Advisory LLC bought a new position in APA in the first quarter valued at about $44,000. Institutional investors and hedge funds own 83.01% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on APA shares. BMO Capital Markets lowered their target price on APA from $47.00 to $45.00 and set a "market perform" rating for the company in a research note on Wednesday, May 13th. Capital One Financial raised their price target on shares of APA from $50.00 to $51.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Roth Capital set a $39.00 price target on shares of APA in a report on Thursday, August 6th. Raymond James Financial upped their price objective on shares of APA from $50.00 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of APA from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Wednesday. 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 MarketBeat, the company has an average rating of "Hold" and a consensus price target of $41.68.

APA Stock Down 1.1%

NASDAQ:APA opened at $44.18 on Friday. The firm's 50 day simple moving average is $37.62 and its 200 day simple moving average is $36.85. 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 Corporation has a one year low of $21.57 and a one year high of $45.66. The company has a market cap of $15.48 billion, a PE ratio of 9.34, a P/E/G ratio of 0.81 and a beta of 0.37.

APA (NASDAQ:APA - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.46 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, research analysts anticipate that APA Corporation will post 5.54 earnings per share 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.

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