Public Employees Retirement System of Ohio Makes New Investment in APA Corporation $APA

Public Employees Retirement System of Ohio purchased a new stake in shares of APA Corporation (NASDAQ:APA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 130,155 shares of the company’s stock, valued at approximately $4,239,000.

A number of other hedge funds have also recently made changes to their positions in the business. Altshuler Shaham Ltd raised its stake in APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after purchasing an additional 330 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of APA by 0.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock valued at $2,609,000 after buying an additional 375 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of APA by 1.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after buying an additional 396 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of APA by 37.9% during the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company’s stock worth $48,000 after acquiring an additional 409 shares during the last quarter. Finally, IRON Financial LLC boosted its position in shares of APA by 7.2% during the second quarter. IRON Financial LLC now owns 7,279 shares of the company’s stock worth $237,000 after acquiring an additional 490 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Stephens raised their price objective on APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. BMO Capital Markets decreased their target price on APA from $47.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 13th. Zacks Research cut APA from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised APA from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Nine equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.68.

APA Stock Down 1.1%

Shares of NASDAQ APA opened at $44.18 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. APA Corporation has a 12-month low of $21.57 and a 12-month high of $45.66. The firm’s 50-day moving average price is $37.62 and its 200-day moving average price is $36.85. The stock has a market capitalization of $15.48 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.81 and a beta of 0.37.

APA (NASDAQ:APA) last issued 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). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period in the previous year, the firm earned $0.87 earnings per share. On average, equities research analysts anticipate 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.