So ... this event-driven hedge fund wants APA to do what it's been doing?
I wonder if Jana Partners recently lost money in oil futures, as did many, and simply is looking to recoup the loss by using headlines to goose APA's share price. May set a stop limit to protect this gain.
Apache said it welcomes Jana's investment. "We are focused on continuing to execute our strategic plan to rebalance our portfolio and to focus our strategy on more predictable and profitable production growth in our North American onshore assets," spokesman Patrick Cassidy said.
However, all this sudden gushing over APA makes me wary. Is APA in cahoots with Jana to increase the share price? Did Jim Cramer know this was coming down when he joined the APA fan club? Guess it doesn't matter as long as they are making us richer. Just don't let them take the money and run, leaving us holding the bag.