State of New Jersey Common Pension Fund D Sells 46,491 Shares of APA Co. (NASDAQ:APA)

State of New Jersey Common Pension Fund D decreased its holdings in APA Co. (NASDAQ:APA) by 26.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 127,611 shares of the company’s stock after selling 46,491 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in APA were worth $3,757,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares during the last quarter. Wealthquest Corp boosted its position in APA by 21.7% during the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after acquiring an additional 27,513 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in APA by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after acquiring an additional 345,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in APA by 18.5% during the first quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after acquiring an additional 7,580 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

Wall Street Analyst Weigh In

APA has been the topic of several research reports. UBS Group dropped their price objective on shares of APA from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Citigroup dropped their price objective on shares of APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Evercore ISI reiterated an “in-line” rating and set a $39.00 price objective on shares of APA in a report on Thursday, September 12th. Wolfe Research initiated coverage on shares of APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.67.

APA Stock Up 3.3 %

APA stock opened at $25.25 on Wednesday. APA Co. has a twelve month low of $22.72 and a twelve month high of $43.58. The firm has a 50 day moving average price of $28.62 and a 200-day moving average price of $30.23. The company has a market capitalization of $9.37 billion, a P/E ratio of 2.82 and a beta of 3.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last released its 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 net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 41.6% compared to the same quarter last year. As a group, equities analysts predict that APA Co. will post 4.34 EPS for the current year.

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.