APA (NASDAQ:APA) Announces Quarterly Earnings Results

APA (NASDAQ:APA) released its quarterly earnings results on Thursday. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12), Briefing.com reports. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS.

APA Trading Up 0.3 %

APA stock traded up $0.08 during trading on Friday, reaching $29.26. The company had a trading volume of 9,600,753 shares, compared to its average volume of 6,374,839. The business has a 50 day moving average of $32.52 and a 200 day moving average of $34.13. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.02. The company has a market cap of $8.81 billion, a P/E ratio of 3.27 and a beta of 3.29. APA has a 52 week low of $28.90 and a 52 week high of $46.15.

APA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, April 19th. APA’s payout ratio is 11.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APA shares. Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Wells Fargo & Company began coverage on APA in a research report on Wednesday, April 24th. They set an “overweight” rating and a $55.00 price objective on the stock. Raymond James dropped their target price on APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. StockNews.com cut shares of APA from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Scotiabank restated a “sector perform” rating and issued a $37.00 price objective (down from $43.00) on shares of APA in a report on Tuesday, January 16th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.05.

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.