Johnson Financial Group Inc. Acquires Shares of 20,625 APA Corporation $APA

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

Several other hedge funds have also recently made changes to their positions in APA. Hollencrest Capital Management increased its holdings in APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in APA during the first quarter valued at about $28,000. MidFirst Bank bought a new position in APA during the second quarter worth about $33,000. Global Assets Advisory LLC bought a new position in APA during the first quarter worth about $44,000. Finally, Gables Capital Management Inc. purchased a new position in shares of APA in the second quarter worth about $36,000. 83.01% of the stock is currently owned by institutional investors.

APA Price Performance

Shares of NASDAQ:APA opened at $43.45 on Thursday. The company has a 50 day moving average of $35.69 and a 200 day moving average of $35.61. The stock has a market cap of $15.22 billion, a P/E ratio of 9.19 and a beta of 0.35. APA Corporation has a 12 month low of $19.96 and a 12 month high of $45.66. 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 (NASDAQ:APA) last posted its earnings results 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 firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. As a group, sell-side analysts forecast that APA Corporation will post 5.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

APA has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of APA from $39.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. The Goldman Sachs Group reduced their price objective on shares of APA from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Susquehanna boosted their target price on shares of APA from $45.00 to $47.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded APA from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, BMO Capital Markets dropped their target price on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average price target of $41.50.

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.