Oppenheimer Asset Management Inc. Decreases Position in Apergy Corp (NYSE:APY)
Oppenheimer Asset Management Inc. decreased its holdings in shares of Apergy Corp (NYSE:APY) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,348 shares of the company’s stock after selling 1,016 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Apergy were worth $280,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in Apergy by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 52,342 shares of the company’s stock worth $1,756,000 after buying an additional 400 shares during the period. Oregon Public Employees Retirement Fund increased its position in Apergy by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 31,351 shares of the company’s stock worth $1,052,000 after buying an additional 442 shares during the period. Meeder Asset Management Inc. increased its position in Apergy by 136.0% during the second quarter. Meeder Asset Management Inc. now owns 925 shares of the company’s stock worth $31,000 after buying an additional 533 shares during the period. Great West Life Assurance Co. Can increased its position in Apergy by 1.2% during the first quarter. Great West Life Assurance Co. Can now owns 46,839 shares of the company’s stock worth $1,923,000 after buying an additional 552 shares during the period. Finally, Mason Street Advisors LLC increased its position in Apergy by 1.5% during the first quarter. Mason Street Advisors LLC now owns 41,134 shares of the company’s stock worth $1,689,000 after buying an additional 623 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.
Several research analysts have commented on APY shares. Citigroup lowered Apergy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $41.00 to $34.00 in a research report on Tuesday, July 9th. Wells Fargo & Co cut their price target on Apergy from $39.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday. Barclays set a $39.00 price target on Apergy and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research lowered Apergy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group dropped their target price on Apergy from $48.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $40.90.
Apergy (NYSE:APY) last released its earnings results on Wednesday, July 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $306.05 million for the quarter, compared to analyst estimates of $310.64 million. Apergy had a return on equity of 10.86% and a net margin of 7.60%. The business’s revenue was up .1% on a year-over-year basis. On average, equities analysts anticipate that Apergy Corp will post 1.35 EPS for the current fiscal year.
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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