Johnson Financial Group Inc. Makes New Investment in APA Corporation $APA

Johnson Financial Group Inc. acquired a new position in APA Corporation (NASDAQ:APA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,625 shares of the company’s stock, valued at approximately $672,000.

A number of other large investors also recently modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in APA by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock worth $700,000 after buying an additional 2,070 shares in the last quarter. NewEdge Advisors LLC lifted its stake in APA by 49.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after acquiring an additional 3,578 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after acquiring an additional 806,252 shares during the last quarter. Focus Partners Wealth boosted its holdings in APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after acquiring an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of APA in the 2nd quarter worth $5,199,000. Institutional investors own 83.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of APA from $39.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Benchmark upped their price objective on shares of APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Capital One Financial increased their price objective 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. Finally, Morgan Stanley dropped their target price on shares of APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, June 26th. Ten investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $41.50.

APA Trading Up 2.5%

Shares of APA stock opened at $43.45 on Thursday. The firm has a market cap of $15.22 billion, a PE ratio of 9.19 and a beta of 0.35. APA Corporation has a 1 year low of $19.96 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a fifty day moving average price of $35.69 and a 200-day moving average price of $35.61.

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 for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts anticipate that APA Corporation will post 5.25 EPS for the current year.

APA Company Profile

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.