APA (NASDAQ:APA) Issues Earnings Results, Beats Expectations By $0.22 EPS

APA (NASDAQ:APA) announced its quarterly earnings data on Wednesday. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22, Briefing.com reports. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business posted $0.85 EPS. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year.

APA Trading Down 8.0 %

Shares of APA stock traded down $2.49 on Friday, hitting $28.59. The stock had a trading volume of 8,733,734 shares, compared to its average volume of 4,771,710. The company has a quick ratio of 1.16, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. APA has a one year low of $27.17 and a one year high of $46.15. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 3.20 and a beta of 3.26. The stock’s 50-day simple moving average is $29.69 and its two-hundred day simple moving average is $30.98.

APA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Monday, July 22nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s dividend payout ratio is 11.19%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APA. Evercore ISI cut APA from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $52.00 to $39.00 in a research note on Friday, June 14th. Scotiabank lowered their price target on shares of APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wolfe Research assumed coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target on the stock. Morgan Stanley reissued an “underweight” rating and issued a $28.00 price target on shares of APA in a report on Monday, April 15th. Finally, Mizuho increased their price target on shares of APA from $34.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, May 21st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.91.

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.