APA (NASDAQ:APA) Announces Quarterly Earnings Results

APA (NASDAQ:APA) announced its quarterly earnings results on Wednesday. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12), Briefing.com reports. APA had a return on equity of 50.56% and a net margin of 34.04%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis.

APA Stock Up 0.3 %

Shares of NASDAQ:APA opened at $29.26 on Friday. APA has a fifty-two week low of $28.90 and a fifty-two week high of $46.15. The firm’s 50 day moving average price is $32.54 and its 200 day moving average price is $34.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 3.27 and a beta of 3.29.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be given 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 is Friday, April 19th. APA’s dividend payout ratio is presently 11.19%.

Wall Street Analyst Weigh In

APA has been the subject of several analyst reports. Mizuho lowered their price objective on APA from $34.00 to $32.00 and set an “underperform” rating for the company in a research report on Thursday. Susquehanna raised their price objective on APA from $50.00 to $54.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 target price (down previously from $43.00) on shares of APA in a research report on Tuesday, January 16th. Truist Financial dropped their price target on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of APA in a research note on Monday, April 8th. 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 given a strong buy rating to the stock. According to data from MarketBeat, APA currently has a consensus rating of “Hold” and a consensus target price of $42.05.

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.