OMERS ADMINISTRATION Corp Takes $2.99 Million Position in APA Corporation $APA

OMERS ADMINISTRATION Corp bought a new position in APA Corporation (NASDAQ:APA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 91,811 shares of the company’s stock, valued at approximately $2,990,000.

Other hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its holdings in APA by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after purchasing an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. boosted 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. grew its holdings in APA by 1.4% during 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 grew its holdings in 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 buying an additional 409 shares in the last quarter. Finally, IRON Financial LLC grew its holdings in 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 buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Trading Down 3.7%

NASDAQ:APA opened at $41.35 on Wednesday. APA Corporation has a 12 month low of $21.57 and a 12 month high of $45.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $36.28 and its 200 day moving average is $36.08. The stock has a market capitalization of $14.49 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.35.

APA (NASDAQ:APA) last announced 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). APA had a net margin of 19.48% and a return on equity of 24.84%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company posted $0.87 earnings per share. Sell-side analysts expect that APA Corporation will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Benchmark raised their price objective on APA from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Zacks Research lowered shares of APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Stephens increased their target price on shares of APA from $43.00 to $47.00 in a report on Wednesday, June 10th. UBS Group dropped their price target on shares of APA from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Finally, Susquehanna boosted their price target on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a report on Tuesday, August 11th. Ten equities research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.50.

About APA

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.