Easterly Investment Partners LLC Has $732,000 Stock Position in APA Corporation $APA

Key Points

• Easterly Investment Partners LLC increased its stake in APA Corporation by 166.7% in Q2, owning 40,000 shares worth $732,000 as of the latest SEC filing.
• APA Corporation reported $0.87 earnings per share for the last quarter, exceeding analysts' expectations of $0.45, although revenue fell 14.4% year-over-year.
• The company announced a quarterly dividend of $0.25, translating to an annualized amount of $1.00 with a dividend yield of 4.4%, to be paid on November 21st.

Easterly Investment Partners LLC raised its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 166.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,000 shares of the company's stock after purchasing an additional 25,000 shares during the period. Easterly Investment Partners LLC's holdings in APA were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in APA. Golden State Wealth Management LLC raised its position in APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after purchasing an additional 1,382 shares in the last quarter. TD Private Client Wealth LLC raised its position in APA by 144.9% during the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after purchasing an additional 1,104 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in APA during the second quarter valued at approximately $49,000. SVB Wealth LLC acquired a new position in APA during the first quarter valued at approximately $55,000. Finally, Allworth Financial LP increased its holdings in shares of APA by 122.5% during the first quarter. Allworth Financial LP now owns 3,084 shares of the company's stock worth $65,000 after buying an additional 1,698 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Stock Performance

Shares of APA stock opened at $22.52 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA Corporation has a twelve month low of $13.58 and a twelve month high of $25.83. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 7.53, a P/E/G ratio of 6.63 and a beta of 1.16. The company's fifty day moving average is $22.89 and its 200 day moving average is $19.59.

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

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Wednesday, October 22nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 4.4%. APA's payout ratio is currently 33.44%.

Wall Street Analysts Forecast Growth

APA has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of APA in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and set a $28.00 price target (up from $26.00) on shares of APA in a report on Wednesday, September 10th. Scotiabank upped their price target on shares of APA from $22.00 to $26.00 and gave the stock a "sector perform" rating in a report on Thursday, October 9th. Piper Sandler upped their price target on shares of APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Finally, Stephens initiated coverage on shares of APA in a report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 price target for the company. Three analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $24.06.

APA Company 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.

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