APA Co. (NASDAQ:APA) Announces Quarterly Dividend of $0.13

APA Co. (NASDAQ:APAGet Rating) declared a quarterly dividend on Thursday, May 12th, RTT News reports. Stockholders of record on Friday, July 22nd will be paid a dividend of 0.125 per share on Monday, August 22nd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.31%.

APA has a dividend payout ratio of 5.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect APA to earn $10.18 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 4.9%.

APA stock traded down $0.27 on Thursday, hitting $38.03. 10,291,018 shares of the company’s stock were exchanged, compared to its average volume of 9,800,638. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.12 and a current ratio of 1.23. APA has a 12-month low of $15.55 and a 12-month high of $45.27. The firm has a 50 day moving average price of $40.78 and a two-hundred day moving average price of $33.56. The stock has a market cap of $12.86 billion, a P/E ratio of 5.39, a price-to-earnings-growth ratio of 0.16 and a beta of 4.13.

APA (NASDAQ:APAGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.16. APA had a net margin of 30.21% and a return on equity of 11,632.79%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the company posted $0.91 EPS. The company’s revenue was up 42.7% on a year-over-year basis. Sell-side analysts expect that APA will post 9.96 earnings per share for the current fiscal year.

A number of analysts have issued reports on APA shares. Susquehanna Bancshares boosted their price objective on shares of APA from $42.00 to $52.00 in a report on Monday, April 25th. MKM Partners boosted their price target on shares of APA from $38.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, February 23rd. KeyCorp increased their price target on shares of APA from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Stifel Nicolaus increased their price target on shares of APA from $51.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. Finally, Truist Financial lifted their price objective on shares of APA from $55.00 to $65.00 in a research note on Thursday, April 21st. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.55.

In related news, insider P Anthony Lannie sold 40,800 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $39.90, for a total value of $1,627,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Chansoo Joung purchased 40,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were acquired at an average cost of $32.92 per share, for a total transaction of $1,316,800.00. The disclosure for this purchase can be found here. Company insiders own 1.05% of the company’s stock.

A number of institutional investors have recently modified their holdings of APA. Acadian Asset Management LLC bought a new position in shares of APA during the 1st quarter valued at $145,000. Cetera Advisor Networks LLC acquired a new position in shares of APA in the first quarter worth about $295,000. Synovus Financial Corp purchased a new stake in APA during the 4th quarter valued at about $231,000. Cetera Investment Advisers purchased a new position in APA in the fourth quarter valued at $235,000. Finally, Toroso Investments LLC acquired a new stake in APA during the fourth quarter worth approximately $252,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

APA Company Profile (Get Rating)

APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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Dividend History for APA (NASDAQ:APA)

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