Woodstock Corp Has $5.95 Million Stock Position in APA Corporation $APA

Key Points

• Woodstock Corp increased its stake in APA Corporation by 21.7%, acquiring an additional 58,017 shares in the second quarter, bringing its total ownership to 325,052 shares worth approximately $5.95 million.
• APA Corporation announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.4%, with the payment scheduled for November 21st.
• In its latest earnings report, APA Corporation exceeded expectations with $0.87 EPS, significantly higher than the consensus estimate of $0.45, despite a 14.4% decline in revenue year-over-year.

Woodstock Corp raised its position in shares of APA Corporation (NASDAQ:APA - Free Report) by 21.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,052 shares of the company's stock after acquiring an additional 58,017 shares during the period. Woodstock Corp owned approximately 0.09% of APA worth $5,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in 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 purchasing an additional 1,382 shares during the period. Rakuten Securities Inc. increased its position in APA by 499.2% during the first quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after buying an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new stake in shares of APA during the fourth quarter worth $42,000. SVB Wealth LLC acquired a new position in APA in the first quarter valued at $55,000. Finally, Allworth Financial LP increased its position 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 acquiring an additional 1,698 shares during the last quarter. Institutional investors own 83.01% of the company's stock.

APA Price Performance

APA stock traded down $0.42 during midday trading on Friday, reaching $23.48. 11,096,066 shares of the stock were exchanged, compared to its average volume of 6,444,284. The company's fifty day moving average is $20.92 and its 200-day moving average is $19.07. The firm has a market cap of $8.40 billion, a PE ratio of 7.85, a PEG ratio of 6.82 and a beta of 1.29. 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.

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

APA Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. APA's payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on APA shares. JPMorgan Chase & Co. upped their price target on APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Piper Sandler lifted their target price on shares of APA from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. UBS Group boosted their price target on shares of APA from $21.00 to $23.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada lowered their target price on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Monday, July 14th. Finally, Scotiabank restated a "sector perform" rating and issued a $22.00 target price (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.78.

APA 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.