APA (NASDAQ:APA) Issues Quarterly Earnings Results

APA (NASDAQ:APA) announced its quarterly earnings data on Wednesday. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22, Briefing.com reports. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS.

APA Stock Down 8.0 %

Shares of NASDAQ APA traded down $2.49 during trading hours on Friday, hitting $28.59. The company had a trading volume of 8,733,734 shares, compared to its average volume of 4,771,710. The stock has a market capitalization of $10.61 billion, a P/E ratio of 3.20 and a beta of 3.26. The company has a quick ratio of 1.16, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA has a 1-year low of $27.17 and a 1-year high of $46.15. The firm’s 50 day moving average is $29.69 and its 200-day moving average is $30.98.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s payout ratio is presently 11.19%.

Analysts Set New Price Targets

APA has been the subject of a number of recent analyst reports. Bank of America reaffirmed an “underperform” rating and issued a $31.00 price target on shares of APA in a research note on Friday, June 14th. Scotiabank lowered their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Citigroup lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Susquehanna upped their price target on APA from $54.00 to $57.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Finally, Sanford C. Bernstein lowered their price target on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.91.

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.