APA Corporation (NASDAQ:APA) Declares $0.25 Quarterly Dividend

APA Corporation (NASDAQ:APA) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Wednesday, July 22nd will be paid a dividend of 0.25 per share on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 22nd.

APA has increased its dividend payment by an average of 0.2%per year over the last three years. APA has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect APA to earn $3.37 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 29.7%.

APA Trading Down 3.9%

Shares of APA opened at $39.32 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. APA has a 12-month low of $16.15 and a 12-month high of $45.66. The firm has a 50-day moving average price of $38.62 and a 200 day moving average price of $30.45. The firm has a market capitalization of $13.90 billion, a P/E ratio of 9.17 and a beta of 0.38.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. APA’s quarterly revenue was down 11.7% on a year-over-year basis. Sell-side analysts forecast that APA will post 5.2 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Zacks Research raised shares of APA from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Morgan Stanley upped their price objective on shares of APA from $22.00 to $43.00 and gave the company an “underweight” rating in a report on Tuesday, April 28th. Truist Financial increased their target price on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Jefferies Financial Group increased their target price on shares of APA from $26.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. Finally, TD Cowen raised shares of APA to a “hold” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $40.08.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.