OMERS ADMINISTRATION Corp Increases Stock Holdings in APA Corporation $APA

Key Points

• OMERS ADMINISTRATION Corp increased its stake in APA Corporation by 41% in the first quarter, resulting in ownership of 76,128 shares valued at approximately $1.6 million.
• Analysts have varying outlooks on APA, with a consensus rating of "Hold" and a price target average of $23.72.
• APA shares opened at $23.22 recently, with a 1-year range between a low of $13.58 and a high of $29.47.

OMERS ADMINISTRATION Corp raised its position in APA Corporation (NASDAQ:APA - Free Report) by 41.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,128 shares of the company's stock after purchasing an additional 22,148 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in APA were worth $1,600,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC raised its position in APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after purchasing an additional 1,029,961 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock valued at $292,871,000 after purchasing an additional 1,046,893 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of APA by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock worth $190,876,000 after acquiring an additional 2,894,543 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company's stock worth $122,328,000 after acquiring an additional 1,195,212 shares during the period. Finally, Northern Trust Corp lifted its position in shares of APA by 7.2% in the 4th quarter. Northern Trust Corp now owns 4,025,421 shares of the company's stock worth $92,947,000 after purchasing an additional 269,865 shares during the period. 83.01% of the stock is currently owned by institutional investors.

APA Stock Down 4.9%

APA stock traded down $1.16 during mid-day trading on Wednesday, reaching $22.68. The stock had a trading volume of 8,307,632 shares, compared to its average volume of 6,998,899. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $27.48. The stock's 50-day simple moving average is $20.03 and its 200-day simple moving average is $18.96. The firm has a market capitalization of $8.11 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 6.91 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter last year, the firm posted $1.17 earnings per share. The company's revenue for the quarter was down 14.4% compared to the same quarter last year. On average, sell-side analysts forecast that APA Corporation will post 4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on APA. Cowen reissued a "hold" rating on shares of APA in a research note on Thursday, August 7th. Mizuho lowered their target price on APA from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Morgan Stanley lifted their target price on APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a report on Monday, August 18th. Roth Capital downgraded APA from a "buy" rating to a "neutral" rating and set a $22.00 target price for the company. in a report on Wednesday, August 13th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $26.00 target price (up from $25.00) on shares of APA in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $23.72.

APA 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.