Northwestern Mutual Wealth Management Co. Makes New $3.74 Million Investment in APA Corporation $APA

Northwestern Mutual Wealth Management Co. acquired a new position in shares of APA Corporation (NASDAQ:APAFree Report) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 114,905 shares of the company’s stock, valued at approximately $3,742,000.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. bought a new position in APA during the second quarter valued at about $1,173,231,000. Dimensional Fund Advisors LP lifted its position in shares of APA by 6.9% in the 1st 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 during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of APA by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,710,034 shares of the company’s stock worth $359,807,000 after purchasing an additional 285,542 shares in the last quarter. Morgan Stanley grew its holdings in shares of APA by 21.8% during the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after purchasing an additional 1,864,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in 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 buying an additional 3,117,032 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APA has been the topic of several analyst reports. Argus upgraded APA from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, August 19th. Wells Fargo & Company boosted their target price on APA from $39.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. JPMorgan Chase & Co. increased their price target on APA from $38.00 to $41.00 in a research report on Friday, May 8th. Mizuho raised APA to a “strong sell” rating in a report on Friday, July 31st. Finally, Roth Capital set a $39.00 price objective on APA in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating, sixteen 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 target price of $41.50.

Get Our Latest Analysis on APA

APA Stock Performance

APA stock opened at $42.96 on Tuesday. The company has a market cap of $15.05 billion, a PE ratio of 9.08, a PEG ratio of 0.78 and a beta of 0.35. 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 Corporation has a 1 year low of $21.47 and a 1 year high of $45.66. The company’s 50-day moving average is $36.14 and its two-hundred day moving average is $35.98.

APA (NASDAQ:APAGet Free Report) last issued its quarterly 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 firm earned $0.87 EPS. Equities analysts anticipate that APA Corporation will post 5.54 earnings per share for the current year.

APA Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for APA (NASDAQ:APA)

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