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

APA (NASDAQ:APA) posted its quarterly earnings data on Thursday. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12), Briefing.com reports. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 earnings per share.

APA Stock Performance

NASDAQ:APA traded up $0.08 during mid-day trading on Friday, reaching $29.26. 9,600,753 shares of the company’s stock were exchanged, compared to its average volume of 6,374,839. APA has a one year low of $28.90 and a one year high of $46.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.02 and a current ratio of 1.16. The business’s fifty day simple moving average is $32.52 and its two-hundred day simple moving average is $34.13. The firm has a market capitalization of $8.81 billion, a PE ratio of 3.27 and a beta of 3.29.

APA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.42%. APA’s payout ratio is presently 11.19%.

Analyst Ratings Changes

Several brokerages have recently weighed in on APA. Mizuho decreased their price target on shares of APA from $34.00 to $32.00 and set an “underperform” rating for the company in a research note on Thursday. Piper Sandler lifted their price target on shares of APA from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, April 19th. Raymond James reduced their price objective on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 target price on shares of APA in a research report on Monday, April 8th. Finally, Wells Fargo & Company started coverage on APA in a research report on Wednesday, April 24th. They set an “overweight” rating and a $55.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus 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.