APA (NASDAQ:APA) Issues Quarterly Earnings Results, Misses Expectations By $0.18 EPS

APA (NASDAQ:APA) released its earnings results on Wednesday. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18), Zacks reports. APA had a net margin of 24.36% and a return on equity of 27.86%.

APA Trading Down 1.7 %

Shares of NASDAQ:APA opened at $22.01 on Thursday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 3.11 and a beta of 3.15. The company’s fifty day simple moving average is $22.99 and its 200 day simple moving average is $24.13. APA has a 12 month low of $20.32 and a 12 month high of $36.04. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend is Tuesday, April 22nd. APA’s dividend payout ratio (DPR) is presently 14.12%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on APA shares. The Goldman Sachs Group cut their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, January 3rd. Piper Sandler decreased their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Raymond James increased their price objective on APA from $44.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Barclays cut their target price on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. Finally, Truist Financial lowered their target price on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus target price of $30.65.

Insider Transactions at APA

In related news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

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.