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

APA (NASDAQ:APA) announced its quarterly earnings results on Wednesday. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22, Briefing.com reports. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year.

APA Trading Down 0.8 %

Shares of APA traded down $0.25 during trading hours on Thursday, reaching $30.94. The stock had a trading volume of 6,698,621 shares, compared to its average volume of 6,271,569. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. APA has a 52 week low of $27.17 and a 52 week high of $46.15. The firm has a 50-day moving average of $29.67 and a 200 day moving average of $31.00. The company has a market cap of $11.48 billion, a P/E ratio of 3.49 and a beta of 3.26.

APA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.23%. The ex-dividend date is Monday, July 22nd. APA’s dividend payout ratio (DPR) is presently 11.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on APA shares. Scotiabank lowered their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Evercore ISI cut shares of APA from an “outperform” rating to an “inline” rating and decreased their price objective for the company from $52.00 to $39.00 in a research report on Friday, June 14th. Wells Fargo & Company decreased their price objective on shares of APA from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Truist Financial decreased their price objective on shares of APA from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America reissued an “underperform” rating and issued a $31.00 target price on shares of APA in a report on Friday, June 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.86.

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.