APA Co. (NASDAQ:APA) Announces $0.25 Quarterly Dividend

APA Co. (NASDAQ:APA) declared a quarterly dividend on Tuesday, September 10th, Zacks reports. Shareholders of record on Tuesday, October 22nd will be given a dividend of 0.25 per share on Friday, November 22nd. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, October 22nd.

APA has raised its dividend payment by an average of 45.5% annually over the last three years. APA has a payout ratio of 27.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect APA to earn $3.91 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.6%.

APA Trading Up 1.0 %

NASDAQ:APA opened at $25.16 on Monday. APA has a 52 week low of $22.72 and a 52 week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $26.43 and its 200-day moving average is $29.02. The firm has a market cap of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. APA’s revenue for the quarter was up 41.6% on a year-over-year basis. Equities analysts expect that APA will post 3.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on APA shares. UBS Group cut their target price on APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler cut their price target on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Citigroup lowered their price objective on shares of APA from $32.00 to $29.00 in a research note on Friday. Wells Fargo & Company cut their target price on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Evercore ISI reduced their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday, September 30th. 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 presently has a consensus rating of “Hold” and an average target price of $34.18.

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.