Northwestern Mutual Wealth Management Co. Has $13.24 Million Stock Holdings in APA Co. (NASDAQ:APA)

Northwestern Mutual Wealth Management Co. raised its stake in APA Co. (NASDAQ:APA) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 449,604 shares of the company’s stock after buying an additional 38,244 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.12% of APA worth $13,236,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after buying an additional 1,938,335 shares during the last quarter. Harris Associates L P boosted its stake in shares of APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after acquiring an additional 2,736,041 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after acquiring an additional 455,312 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APA shares. Mizuho lowered their price target on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Truist Financial dropped their target price on shares of APA from $46.00 to $34.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada restated a “sector perform” rating and set a $41.00 price target on shares of APA in a report on Tuesday, September 17th. Evercore ISI dropped their price objective on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company decreased their target price on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $35.43.

APA Stock Up 4.9 %

Shares of APA stock opened at $25.66 on Wednesday. The stock has a market cap of $9.52 billion, a P/E ratio of 2.87 and a beta of 3.24. APA Co. has a one year low of $22.72 and a one year high of $43.58. The stock has a fifty day moving average price of $27.33 and a 200 day moving average price of $29.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. Analysts predict that APA Co. will post 4.04 earnings per share for the current year.

APA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, October 22nd. APA’s payout ratio is 11.19%.

APA Profile

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.