APA Corporation (NASDAQ:APA) Plans Quarterly Dividend of $0.25

Key Points

• APA Corporation has announced a quarterly dividend of $0.25 per share, with payment due on November 21st to shareholders of record by October 22nd, indicating an annualized yield of 4.6%.
• The company maintains a payout ratio of 34.8%, suggesting strong earnings coverage for the dividend, along with projected earnings of $3.63 per share for the coming year.
• Currently, APA's stock is trading at $21.66, down 2.7%, and analysts have mixed ratings, with a consensus "Hold" rating and a target price of $23.72.

APA Corporation (NASDAQ:APA - Get Free Report) declared a quarterly dividend on Tuesday, September 9th, RTT News reports. Shareholders of record on Wednesday, October 22nd will be paid a dividend of 0.25 per share on Friday, November 21st. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%.

APA has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect APA to earn $3.63 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 27.5%.

APA Stock Down 2.7%

Shares of APA traded down $0.60 during trading on Tuesday, reaching $21.66. The company's stock had a trading volume of 6,763,490 shares, compared to its average volume of 7,914,281. The company has a fifty day moving average of $20.29 and a two-hundred day moving average of $18.89. APA has a twelve month low of $13.58 and a twelve month high of $27.48. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 6.76 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.42. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The business's revenue was down 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. On average, sell-side analysts predict that APA will post 4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Cowen reissued a "hold" rating on shares of APA in a research report on Thursday, August 7th. Argus raised APA to a "hold" rating in a research report on Friday, May 16th. Roth Capital lowered APA from a "buy" rating to a "neutral" rating and set a $22.00 target price on the stock. in a research report on Wednesday, August 13th. Cfra Research raised APA to a "hold" rating in a research report on Friday, August 8th. Finally, Barclays increased their target price on APA from $21.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.72.

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.

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