Samalin Investment Counsel LLC Sells 4,094 Shares of APA Corporation $APA

Samalin Investment Counsel LLC lowered its holdings in APA Corporation (NASDAQ:APA) by 25.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,008 shares of the company’s stock after selling 4,094 shares during the period. Samalin Investment Counsel LLC’s holdings in APA were worth $220,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after buying an additional 2,894,543 shares in the last quarter. Nuveen LLC bought a new position in shares of APA in the first quarter worth $22,533,000. Charles Schwab Investment Management Inc. grew its position in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock valued at $292,871,000 after purchasing an additional 1,046,893 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in shares of APA by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock valued at $765,964,000 after purchasing an additional 1,029,961 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of APA during the 1st quarter valued at $17,129,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

APA Stock Up 2.2%

APA stock opened at $24.35 on Tuesday. The company’s 50 day moving average is $23.42 and its 200 day moving average is $20.48. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.12. 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 Corporation has a 1-year low of $13.58 and a 1-year high of $25.83.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. Sell-side analysts predict that APA Corporation will post 4.03 EPS for the current fiscal year.

APA Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 4.1%. APA’s payout ratio is 24.04%.

Wall Street Analyst Weigh In

Several brokerages have commented on APA. Piper Sandler raised their target price on APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of APA from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Raymond James Financial boosted their price objective on shares of APA from $28.00 to $31.00 in a research note on Tuesday, October 28th. BMO Capital Markets increased their target price on shares of APA from $28.00 to $30.00 and gave the stock a “market perform” rating in a research note on Monday, October 13th. Finally, Evercore ISI cut their price target on shares of APA from $21.00 to $16.00 in a report on Tuesday, November 4th. Three equities 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 company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $24.17.

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.