Kingsview Wealth Management LLC Acquires New Holdings in APA Corporation $APA

Kingsview Wealth Management LLC bought a new position in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 106,321 shares of the company’s stock, valued at approximately $3,463,000.

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

APA Stock Up 0.4%

Shares of NASDAQ APA opened at $42.54 on Friday. The firm has a market cap of $14.90 billion, a PE ratio of 8.99, a P/E/G ratio of 0.77 and a beta of 0.35. APA Corporation has a 12-month low of $21.57 and a 12-month high of $45.66. The company’s fifty day simple moving average is $36.80 and its 200 day simple moving average is $36.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $0.87 earnings per share. As a group, sell-side analysts forecast that APA Corporation will post 5.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APA has been the subject of several analyst reports. Wall Street Zen raised APA from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Citigroup lifted their price objective on APA from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. Susquehanna upped their target price on APA from $45.00 to $47.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. UBS Group decreased their target price on shares of APA from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. Finally, Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $41.50.

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.