Sequoia Financial Advisors LLC Makes New $733,000 Investment in APA Corporation $APA

Key Points

• Sequoia Financial Advisors LLC has invested approximately $733,000 in APA Corporation by purchasing 40,086 shares during the second quarter.
• The company has recently declared a quarterly dividend of $0.25 per share, with a yield of 4.4%, to be paid on November 21st.
• Despite a recent quarterly revenue decline of 14.4% year-over-year, APA reported an EPS of $0.87, surpassing analyst expectations.

Sequoia Financial Advisors LLC purchased a new position in shares of APA Corporation (NASDAQ:APA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 40,086 shares of the company's stock, valued at approximately $733,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC boosted its holdings in shares of APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock worth $34,000 after buying an additional 1,104 shares in the last quarter. SVB Wealth LLC bought a new position in shares of APA during the 1st quarter worth approximately $55,000. Toth Financial Advisory Corp bought a new position in shares of APA during the 2nd quarter worth approximately $49,000. Finally, Allworth Financial LP boosted its holdings in shares of APA by 122.5% during the 1st 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.

Wall Street Analyst Weigh In

APA has been the topic of a number of research analyst reports. Barclays increased their price target on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Morgan Stanley lowered their target price on APA from $23.00 to $22.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of APA in a research report on Tuesday, October 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $28.00 target price (up from $26.00) on shares of APA in a research report on Wednesday, September 10th. Finally, Stephens assumed coverage on APA in a research report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, APA has a consensus rating of "Hold" and a consensus price target of $24.06.

APA Trading Down 2.1%

NASDAQ APA opened at $22.52 on Friday. The firm has a market capitalization of $8.06 billion, a P/E ratio of 7.53, a PEG ratio of 6.49 and a beta of 1.16. The business has a fifty day simple moving average of $22.89 and a 200 day simple moving average of $19.58. APA Corporation has a 12 month low of $13.58 and a 12 month high of $25.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.42. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.APA's quarterly revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.17 EPS. On average, analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

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

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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