Public Employees Retirement System of Ohio Invests $4.24 Million in APA Corporation $APA

Public Employees Retirement System of Ohio purchased a new stake in shares of APA Corporation (NASDAQ:APA) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 130,155 shares of the company’s stock, valued at approximately $4,239,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APA. Hollencrest Capital Management lifted its stake in APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of APA during the first quarter valued at approximately $28,000. Summit Securities Group LLC raised its holdings in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares during the period. MidFirst Bank purchased a new stake in shares of APA in the second quarter worth approximately $33,000. Finally, Compass Financial Management LLC bought a new stake in shares of APA during the 2nd quarter worth approximately $33,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Stock Performance

APA stock opened at $44.18 on Friday. APA Corporation has a 1-year low of $21.57 and a 1-year high of $45.66. The business has a 50-day moving average price of $37.62 and a 200 day moving average price of $36.85. The company has a market capitalization of $15.48 billion, a P/E ratio of 9.34, a PEG ratio of 0.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business posted $0.87 EPS. As a group, equities research analysts forecast that APA Corporation will post 5.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on APA. Argus upgraded APA from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, August 19th. Susquehanna boosted their target price on shares of APA from $45.00 to $47.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Raymond James Financial raised their price target on shares of APA from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein lifted their price objective on shares of APA from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, May 20th. Finally, Benchmark boosted their price objective on shares of APA from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, APA has an average rating of “Hold” and a consensus price target of $41.68.

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.