Cibc World Market Inc. Buys Shares of 49,195 APA Corporation $APA

Cibc World Market Inc. bought a new stake in APA Corporation (NASDAQ:APA) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 49,195 shares of the company’s stock, valued at approximately $1,602,000.

A number of other hedge funds have also recently made changes to their positions in APA. Thrivent Financial for Lutherans boosted its position in APA by 85.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock worth $1,976,000 after buying an additional 37,180 shares during the period. Prudential PLC increased its position in APA by 753.2% in the 4th quarter. Prudential PLC now owns 136,744 shares of the company’s stock valued at $3,345,000 after acquiring an additional 120,717 shares during the period. PNC Financial Services Group Inc. increased its position in APA by 20.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock valued at $4,723,000 after acquiring an additional 32,357 shares during the period. Hoertkorn Richard Charles acquired a new position in APA in the 1st quarter valued at approximately $2,429,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of APA during the fourth quarter valued at $19,968,000. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Up 2.9%

Shares of NASDAQ APA opened at $42.38 on Friday. The company has a market capitalization of $14.85 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 0.74 and a beta of 0.35. APA Corporation has a 52-week low of $21.57 and a 52-week high of $45.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50 day moving average price is $36.61 and its 200-day moving average price is $36.28.

APA (NASDAQ:APA) last posted its quarterly earnings data 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 return on equity of 24.84% and a net margin of 19.48%.The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company earned $0.87 earnings per share. Equities analysts forecast that APA Corporation will post 5.54 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on APA shares. Argus upgraded shares of APA from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, August 19th. Mizuho upgraded APA to a “strong sell” rating in a report on Friday, July 31st. Capital One Financial raised their target price on APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Morgan Stanley cut their target price on APA from $44.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, June 26th. Finally, Citigroup upped their price target on APA from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, August 20th. Ten analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

APA 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.