Investment Management Corp of Ontario Has $238,000 Position in APA Co. (NASDAQ:APA)

Investment Management Corp of Ontario lowered its stake in APA Co. (NASDAQ:APA) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,298 shares of the company’s stock after selling 2,000 shares during the period. Investment Management Corp of Ontario’s holdings in APA were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. grew its holdings in APA by 6.9% during the 4th quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock worth $305,498,000 after acquiring an additional 850,052 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in APA by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock worth $297,540,000 after acquiring an additional 894,574 shares during the period. Geode Capital Management LLC grew its holdings in APA by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock worth $219,016,000 after acquiring an additional 200,770 shares during the period. Dimensional Fund Advisors LP grew its holdings in APA by 33.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock worth $142,823,000 after acquiring an additional 1,540,055 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in APA by 29.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,092,666 shares of the company’s stock worth $94,500,000 after acquiring an additional 929,770 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on APA. Royal Bank of Canada lowered their target price on shares of APA from $27.00 to $24.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Wells Fargo & Company lowered their target price on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Raymond James lowered shares of APA from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $45.00 to $32.00 in a report on Monday, March 10th. Piper Sandler reduced their price target on shares of APA from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $23.00 price target on shares of APA in a research report on Wednesday, March 19th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $25.37.

APA Trading Up 4.2%

APA opened at $18.46 on Wednesday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 2.61 and a beta of 1.18. APA Co. has a 12 month low of $13.58 and a 12 month high of $33.41. The firm’s fifty day simple moving average is $17.58 and its 200 day simple moving average is $20.83. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.83 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.17 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. As a group, research analysts anticipate that APA Co. will post 4.03 EPS for the current fiscal year.

APA Company 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.