APA (NASDAQ:APA) Hits New 12-Month High Following Dividend Announcement

APA Corporation (NASDAQ:APA) shares reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $47.44 and last traded at $47.41, with a volume of 6426263 shares trading hands. The stock had previously closed at $45.03.

The newly announced dividend which will be paid on Monday, November 23rd. Investors of record on Thursday, October 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, October 22nd. APA’s dividend payout ratio is 21.14%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Susquehanna raised their price target on shares of APA from $45.00 to $47.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Wells Fargo & Company increased their target price on APA from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $43.00 price target on shares of APA in a research note on Monday, September 7th. Finally, Raymond James Financial upped their price target on APA from $50.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, September 2nd. Ten analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $42.97.

APA Stock Performance

The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.79 and a beta of 0.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $39.94 and its 200 day simple moving average is $37.97.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same period in the previous year, the business posted $0.87 EPS. Analysts expect that APA Corporation will post 5.7 earnings per share for the current fiscal year.

Key Stories Impacting APA

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA maintained its quarterly dividend at $0.25 per share, equivalent to an annualized $1.00 and an indicated yield of approximately 2.2%. The dividend is payable November 23 to shareholders of record October 22. APA Keeps Quarterly Dividend at $0.25 a Share; Approves Additional Buyback Authorization
• Positive Sentiment: Technical analysts said APA may have broken above longstanding resistance near $45, potentially signaling that selling pressure is easing and a new uptrend is developing. The stock also recently reached a new 52-week high, reinforcing the positive momentum narrative. Stock of the Day: Did APA Corporation Break Major Resistance?
• Positive Sentiment: Zacks highlighted APA as a potentially strong growth stock, which may attract growth, value and momentum-oriented investors. Here’s Why APA Is a Strong Growth Stock
• Neutral Sentiment: Brokers issued updated forecasts for APA’s fourth-quarter earnings, but the available report does not provide enough detail to determine whether the revisions are favorable or unfavorable. Brokers Issue Forecasts for APA’s Q4 Earnings
• Negative Sentiment: APA recently underperformed the broader market, declining 5.53% in the prior session. That weakness may reflect profit-taking or broader energy-sector pressure and remains a near-term risk despite the subsequent recovery. Here’s Why APA Fell More Than the Broader Market

APA announced that its board has approved a share buyback program on Wednesday, September 16th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On APA

Several institutional investors have recently bought and sold shares of APA. Core Capital Management & Research inc. acquired a new position in APA in the second quarter worth $5,800,000. The Manufacturers Life Insurance Company increased its stake in shares of APA by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 258,288 shares of the company’s stock valued at $8,412,000 after buying an additional 8,181 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of APA by 1.9% in the second quarter. Sequoia Financial Advisors LLC now owns 64,862 shares of the company’s stock valued at $2,113,000 after buying an additional 1,179 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of APA by 30.3% in the second quarter. Tidal Investments LLC now owns 276,070 shares of the company’s stock valued at $8,992,000 after buying an additional 64,266 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of APA in the second quarter valued at about $1,468,000. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA’s principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country’s offshore blocks.