APA (NASDAQ:APA) Issues Earnings Results

APA (NASDAQ:APA) issued its earnings results on Wednesday. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10), Briefing.com reports. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.89 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. APA’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.19 EPS.

APA Trading Down 2.7 %

Shares of APA stock traded down $0.82 on Thursday, hitting $29.68. The stock had a trading volume of 2,782,462 shares, compared to its average volume of 6,748,654. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a one year low of $29.25 and a one year high of $46.15. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 3.17 and a beta of 3.29. The stock’s 50-day simple moving average is $32.58 and its two-hundred day simple moving average is $34.28.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, April 19th. APA’s dividend payout ratio is 10.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Johnson Rice downgraded shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. Mizuho lowered their target price on shares of APA from $34.00 to $32.00 and set an “underperform” rating on the stock in a research note on Thursday. Scotiabank reaffirmed a “sector perform” rating and issued a $37.00 target price (down from $43.00) on shares of APA in a research note on Tuesday, January 16th. Raymond James lowered their target price on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $28.00 target price on shares of APA in a research note on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.