APA (NASDAQ:APA) Posts Earnings Results, Misses Estimates By $0.12 EPS

APA (NASDAQ:APA) announced its quarterly earnings data on Thursday. 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 net margin of 34.04% and a return on equity of 45.32%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the company posted $1.19 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year.

APA Stock Up 0.3 %

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

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. This represents a $1.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Friday, April 19th. APA’s payout ratio is currently 11.19%.

Analysts Set New Price Targets

Several research firms have recently weighed in on APA. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a report on Saturday. Roth Mkm increased their price objective on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Johnson Rice lowered shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Friday, January 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of APA in a report on Monday, April 8th. Finally, Piper Sandler increased 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.