Easterly Investment Partners LLC Makes New $346,000 Investment in APA Co. (NASDAQ:APA)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TD Private Client Wealth LLC increased its stake in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the last quarter. Riverview Trust Co increased its position 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 purchasing an additional 1,258 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position 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 valued at $31,000 after purchasing an additional 586 shares during the last quarter. Runnymede Capital Advisors Inc. purchased a new position in shares of APA during the 4th quarter valued at about $35,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in APA by 93.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after buying an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Stock Performance

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

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

APA Announces Dividend

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

Analysts Set New Price Targets

APA has been the topic of several research reports. Morgan Stanley set a $22.00 price target on shares of APA and gave the stock an “underweight” rating in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 target price on shares of APA in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. The Goldman Sachs Group reiterated a “sell” rating on shares of APA in a report on Wednesday, March 19th. Finally, Barclays lowered their price objective on shares of APA from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.20.

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.