Share Repurchase Program Declared by APA (NASDAQ:APA) Board

APA (NASDAQ:APA) declared that its board has authorized a stock repurchase program on Wednesday, September 16th, RTT News reports. The company plans to buyback 40,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APA shares. Benchmark raised their price target on shares of APA from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Seaport Research Partners began coverage on APA in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Wall Street Zen upgraded shares of APA from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Susquehanna lifted their target price on APA from $45.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, KeyCorp set a $46.00 price objective on APA in a research report on Wednesday, August 12th. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $42.97.

APA Stock Performance

APA traded up $0.67 during trading on Thursday, hitting $45.46. The stock had a trading volume of 5,075,097 shares, compared to its average volume of 4,985,738. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $15.93 billion, a P/E ratio of 9.61, a PEG ratio of 0.79 and a beta of 0.37. The company’s 50-day moving average price is $39.94 and its 200 day moving average price is $37.97. APA has a twelve month low of $21.63 and a twelve month high of $47.44.

APA (NASDAQ:APA) last released its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion during 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 quarter last year, the business posted $0.87 EPS. On average, equities research analysts forecast that APA will post 5.7 EPS for the current fiscal year.

APA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, October 22nd will be given a $0.25 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. APA’s dividend payout ratio (DPR) is presently 21.14%.

APA News Roundup

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

About APA

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.