Easterly Investment Partners LLC Purchases 25,000 Shares of APA Corporation $APA

Easterly Investment Partners LLC raised its position in shares of APA Corporation (NASDAQ:APA) by 166.7% during the second quarter, HoldingsChannel.com reports. The fund owned 40,000 shares of the company’s stock after buying an additional 25,000 shares during the quarter. Easterly Investment Partners LLC’s holdings in APA were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Cullen Investment Group LTD. boosted its position in APA by 5.9% during the second quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company’s stock valued at $210,000 after acquiring an additional 637 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in APA by 1.5% during the second quarter. Turtle Creek Wealth Advisors LLC now owns 44,194 shares of the company’s stock valued at $808,000 after acquiring an additional 638 shares during the last quarter. Comerica Bank boosted its position in APA by 0.7% during the first quarter. Comerica Bank now owns 89,616 shares of the company’s stock valued at $1,884,000 after acquiring an additional 644 shares during the last quarter. TD Asset Management Inc boosted its position in APA by 1.1% during the second quarter. TD Asset Management Inc now owns 65,835 shares of the company’s stock valued at $1,204,000 after acquiring an additional 698 shares during the last quarter. Finally, Lipe & Dalton boosted its position in APA by 3.5% during the first quarter. Lipe & Dalton now owns 23,290 shares of the company’s stock valued at $490,000 after acquiring an additional 780 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Trading Down 2.1%

APA opened at $22.52 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA Corporation has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The firm has a market capitalization of $8.06 billion, a PE ratio of 7.53, a P/E/G ratio of 6.63 and a beta of 1.16. The company’s 50-day moving average is $22.89 and its 200 day moving average is $19.59.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. As a group, research analysts predict that APA Corporation will post 4.03 earnings per share for the current fiscal year.

APA Dividend Announcement

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

Wall Street Analysts Forecast Growth

APA has been the topic of a number of research analyst reports. Cowen reissued a “hold” rating on shares of APA in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of APA from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. The Goldman Sachs Group raised shares of APA from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Stephens initiated coverage on shares of APA in a research report on Tuesday, August 5th. They set an “equal weight” rating and a $24.00 price objective on the stock. Finally, Raymond James Financial reissued an “outperform” rating and set a $28.00 price objective (up previously from $26.00) on shares of APA in a research report on Wednesday, September 10th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.