Oppenheimer Asset Management Inc. Has $551,000 Stake in Apergy Corp (APY)
Oppenheimer Asset Management Inc. lifted its stake in shares of Apergy Corp (NYSE:APY) by 97.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,643 shares of the company’s stock after buying an additional 6,244 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Apergy were worth $551,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in APY. BlackRock Inc. acquired a new stake in shares of Apergy during the 2nd quarter worth $301,425,000. Boston Partners acquired a new stake in shares of Apergy during the 2nd quarter worth $260,851,000. FMR LLC acquired a new stake in shares of Apergy during the 2nd quarter worth $164,211,000. Bank of New York Mellon Corp acquired a new stake in shares of Apergy during the 2nd quarter worth $137,135,000. Finally, Ruffer LLP acquired a new stake in shares of Apergy during the 2nd quarter worth $82,093,000. 92.96% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on APY. Citigroup reduced their target price on Apergy from $47.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research raised Apergy from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Thursday, October 11th. Wolfe Research began coverage on Apergy in a report on Wednesday, October 10th. They set an “outperform” rating on the stock. Cowen increased their target price on Apergy from $37.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday, August 7th. Finally, Jefferies Financial Group initiated coverage on Apergy in a report on Tuesday, July 17th. They set a “buy” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $45.50.
Apergy (NYSE:APY) last released its quarterly earnings data on Wednesday, October 31st. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $316.47 million for the quarter, compared to analyst estimates of $321.60 million. Apergy had a return on equity of 10.99% and a net margin of 11.29%. On average, sell-side analysts anticipate that Apergy Corp will post 1.45 earnings per share for the current fiscal year.
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Apergy Company Profile
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through Production & Automation Technologies and Drilling Technologies segments. 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, as well as automation equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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