Oppenheimer & Co. Inc. Has $1.96 Million Position in APA Co. (NASDAQ:APA)

Oppenheimer & Co. Inc. raised its stake in shares of APA Co. (NASDAQ:APA) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,574 shares of the company’s stock after buying an additional 9,930 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in APA were worth $1,960,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of APA. Principal Securities Inc. acquired a new position in shares of APA in the 4th quarter valued at approximately $39,000. Dimensional Fund Advisors LP grew its position in shares of APA by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after purchasing an additional 345,192 shares during the period. Quadrant Capital Group LLC grew its position in shares of APA by 24.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,830 shares of the company’s stock valued at $173,000 after purchasing an additional 955 shares during the period. Panagora Asset Management Inc. grew its position in shares of APA by 83.9% in the 4th quarter. Panagora Asset Management Inc. now owns 51,168 shares of the company’s stock valued at $1,836,000 after purchasing an additional 23,341 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of APA by 66.7% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,008 shares of the company’s stock valued at $216,000 after purchasing an additional 2,403 shares during the period. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Up 2.1 %

APA opened at $24.44 on Tuesday. APA Co. has a 1-year low of $22.72 and a 1-year high of $43.58. The stock’s fifty day simple moving average is $28.62 and its 200 day simple moving average is $30.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock has a market cap of $9.04 billion, a PE ratio of 2.73 and a beta of 3.24.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, research analysts expect that APA Co. will post 4.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on APA. UBS Group cut their target price on APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Susquehanna cut their target price on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Evercore ISI restated an “in-line” rating and issued a $39.00 target price on shares of APA in a research note on Thursday, September 12th. Bank of America restated an “underperform” rating and issued a $31.00 target price on shares of APA in a research note on Friday, June 14th. Finally, Barclays restated an “equal weight” rating and issued a $35.00 target price on shares of APA in a research note on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, APA has an average rating of “Hold” and a consensus price target of $36.67.

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.