SVB Wealth LLC Invests $55,000 in APA Corporation $APA

SVB Wealth LLC acquired a new position in shares of APA Corporation (NASDAQ:APA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,595 shares of the company’s stock, valued at approximately $55,000.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after purchasing an additional 1,382 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after purchasing an additional 1,288 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of APA during the 4th quarter worth about $42,000. LRI Investments LLC acquired a new position in APA in the 4th quarter valued at about $44,000. Finally, Allworth Financial LP grew its stake in APA by 122.5% in the 1st quarter. Allworth Financial LP now owns 3,084 shares of the company’s stock valued at $65,000 after buying an additional 1,698 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on APA shares. Argus upgraded shares of APA to a “hold” rating in a research note on Friday, May 16th. Mizuho decreased their price target on shares of APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank reiterated a “sector perform” rating and issued a $22.00 price target (up previously from $14.00) on shares of APA in a research note on Friday, July 11th. Morgan Stanley upped their price target on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of APA from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and an average price target of $23.94.

APA Stock Performance

Shares of NASDAQ:APA opened at $22.12 on Wednesday. The company’s 50 day moving average price is $19.56 and its two-hundred day moving average price is $18.92. APA Corporation has a 12-month low of $13.58 and a 12-month high of $29.47. The firm has a market cap of $7.91 billion, a PE ratio of 7.40, a PEG ratio of 6.58 and a beta of 1.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue was down 14.4% compared to the same quarter last year. Equities research analysts predict that APA Corporation will post 4.03 earnings per share for the current year.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.