APA (NASDAQ:APA) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

APA (NASDAQ:APA) posted its quarterly earnings results on Wednesday. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12), Briefing.com reports. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share.

APA Price Performance

Shares of NASDAQ:APA traded down $1.18 on Thursday, reaching $29.32. 4,447,456 shares of the company were exchanged, compared to its average volume of 6,766,361. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. APA has a 1-year low of $29.25 and a 1-year high of $46.15. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 3.19 and a beta of 3.29. The company has a 50-day moving average of $32.56 and a 200-day moving average of $34.25.

APA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, April 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.41%. APA’s dividend payout ratio (DPR) is presently 10.78%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of APA in a research note on Monday, April 8th. Johnson Rice cut shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Friday, January 5th. Roth Mkm lifted their price target on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Scotiabank reiterated a “sector perform” rating and set a $37.00 price target (down from $43.00) on shares of APA in a research report on Tuesday, January 16th. Finally, Raymond James dropped their price objective on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $42.05.

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.