Lynx Investment Advisory Takes Position in APA Corporation $APA

Key Points

• Lynx Investment Advisory has acquired a new stake in APA Corporation, purchasing 19,746 shares valued at approximately $415,000 in the first quarter.
• APA Corporation recently announced a quarterly dividend of $0.25, resulting in an annualized dividend of $1.00 with a 4.4% dividend yield.
• The company's earnings per share for the last quarter were reported at $0.87, beating consensus estimates by $0.42, despite a year-over-year revenue decline of 14.4%.

Lynx Investment Advisory acquired a new stake in APA Corporation (NASDAQ:APA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,746 shares of the company's stock, valued at approximately $415,000.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its position in shares of APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares during the period. Rakuten Securities Inc. boosted its position in shares of APA by 499.2% in the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after acquiring an additional 1,288 shares during the period. Siemens Fonds Invest GmbH bought a new stake in shares of APA in the fourth quarter valued at approximately $42,000. SVB Wealth LLC bought a new stake in shares of APA in the first quarter valued at approximately $55,000. Finally, Allworth Financial LP boosted its position in shares of APA by 122.5% in the first quarter. Allworth Financial LP now owns 3,084 shares of the company's stock valued at $65,000 after acquiring an additional 1,698 shares during the period. 83.01% of the stock is owned by institutional investors.

APA Stock Down 1.3%

Shares of NASDAQ:APA opened at $22.98 on Friday. APA Corporation has a 52 week low of $13.58 and a 52 week high of $27.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The company's fifty day moving average is $20.49 and its 200-day moving average is $18.94. The company has a market capitalization of $8.22 billion, a PE ratio of 7.69, a P/E/G ratio of 6.92 and a beta of 1.29.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating 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 the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The firm's revenue for the quarter was down 14.4% compared to the same quarter last year. Equities research analysts predict that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Announces Dividend

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

Analyst Ratings Changes

APA has been the subject of a number of recent research reports. Citigroup upped their target price on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Morgan Stanley lifted their price target on shares of APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a research note on Monday, August 18th. Barclays lifted their price target on shares of APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Cowen reiterated a "hold" rating on shares of APA in a research note on Thursday, August 7th. Finally, Roth Capital downgraded shares of APA from a "buy" rating to a "neutral" rating and set a $22.00 price target on the stock. in a research note on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $23.83.

About APA

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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