APA (NASDAQ:APA) Reaches New 1-Year Low on Disappointing Earnings

APA Co. (NASDAQ:APA) shares hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $29.25 and last traded at $29.40, with a volume of 1620896 shares. The stock had previously closed at $30.50.

The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 50.56%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.19 EPS.

APA Announces Dividend

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

Wall Street Analyst Weigh In

APA has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of APA in a report on Monday, April 8th. Truist Financial dropped their price target on APA from $59.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Morgan Stanley reiterated an “underweight” rating and set a $28.00 price objective on shares of APA in a research report on Monday, April 15th. Roth Mkm boosted their target price on APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Johnson Rice lowered APA from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.05.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its position in shares of APA by 28.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock valued at $1,193,000 after purchasing an additional 7,461 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of APA by 3.2% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock worth $44,412,000 after buying an additional 38,505 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of APA during the fourth quarter valued at approximately $95,000. AustralianSuper Pty Ltd increased its position in shares of APA by 14.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock valued at $26,053,000 after acquiring an additional 90,610 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in APA by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after acquiring an additional 24,182 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Price Performance

The firm has a 50-day moving average of $32.54 and a 200-day moving average of $34.22. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $8.81 billion, a P/E ratio of 3.26 and a beta of 3.29.

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.