Easterly Investment Partners LLC Takes Position in APA Co. (NASDAQ:APA)

Easterly Investment Partners LLC bought a new stake in APA Co. (NASDAQ:APA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 15,000 shares of the company’s stock, valued at approximately $346,000.

Other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC increased its position in APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Riverview Trust Co increased its stake in shares of APA by 5,718.2% during the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of APA by 77.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after buying an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of APA in the 4th quarter worth about $35,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock valued at $37,000 after purchasing an additional 780 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their price target on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th. Piper Sandler decreased their price target on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Morgan Stanley set a $22.00 price target on shares of APA and gave the company an “underweight” rating in a report on Wednesday. Finally, Mizuho cut their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, APA has an average rating of “Hold” and a consensus target price of $28.20.

APA Trading Up 0.5 %

Shares of APA stock opened at $21.20 on Friday. The company has a market cap of $7.72 billion, a P/E ratio of 2.99 and a beta of 3.26. The stock has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $22.94. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA Co. has a fifty-two week low of $17.66 and a fifty-two week high of $36.05.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.31 billion. Research analysts forecast that APA Co. will post 4.03 earnings per share for the current year.

APA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Tuesday, April 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.72%. APA’s dividend payout ratio (DPR) is presently 44.25%.

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.