Commerce Bank Acquires Shares of 13,035 APA Corporation $APA

Commerce Bank acquired a new stake in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,035 shares of the company’s stock, valued at approximately $425,000.

Several other hedge funds have also recently modified their holdings of APA. Northwestern Mutual Wealth Management Co. bought a new position in shares of APA during the second quarter worth $3,742,000. Quantbot Technologies LP purchased a new position in APA during the second quarter valued at $1,903,000. Evolve Private Wealth LLC bought a new stake in APA in the 2nd quarter valued at $1,034,000. Landscape Capital Management L.L.C. bought a new stake in APA in the 2nd quarter valued at $4,717,000. Finally, EP Wealth Advisors LLC purchased a new stake in APA in the 2nd quarter worth $902,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on APA. Weiss Ratings raised shares of APA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their target price on APA from $38.00 to $41.00 in a report on Friday, May 8th. Roth Capital set a $39.00 target price on APA in a report on Thursday, August 6th. Sanford C. Bernstein boosted their target price on APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 20th. Finally, Argus raised APA from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, August 19th. Ten investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.50.

APA Price Performance

APA stock opened at $42.38 on Friday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.74 and a beta of 0.35. The firm’s fifty day moving average is $36.61 and its 200 day moving average is $36.28. 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 Corporation has a 52-week low of $21.57 and a 52-week high of $45.66.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the business earned $0.87 earnings per share. Sell-side analysts forecast that APA Corporation will post 5.54 EPS for the current fiscal year.

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.