APA Co. (NASDAQ:APA - Get Free Report) shares hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $29.25 and last traded at $29.40, with a volume of 1620896 shares traded. The stock had previously closed at $30.50.
The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). APA had a net margin of 34.95% and a return on equity of 62.64%. The company had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. The firm's revenue was down 2.8% compared to the same quarter last year.
APA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Monday, April 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $1.00 annualized dividend and a yield of 3.43%. APA's dividend payout ratio (DPR) is presently 10.78%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Barclays reduced their target price on APA from $40.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday. Susquehanna upped their price target on APA from $50.00 to $54.00 and gave the stock a "positive" rating in a research note on Monday, April 22nd. Mizuho dropped their price target on APA from $34.00 to $32.00 and set an "underperform" rating for the company in a research note on Thursday. StockNews.com upgraded APA from a "hold" rating to a "buy" rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on APA from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Three 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.05.
Get Our Latest Analysis on APA
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of APA. American National Bank lifted its holdings in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company's stock worth $25,000 after buying an additional 490 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of APA in the 3rd quarter worth approximately $34,000. Quent Capital LLC lifted its holdings in shares of APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company's stock worth $34,000 after purchasing an additional 375 shares during the last quarter. Rakuten Securities Inc. bought a new stake in shares of APA in the 4th quarter worth approximately $34,000. Finally, Principal Securities Inc. bought a new stake in shares of APA in the 4th quarter worth approximately $39,000. Institutional investors own 83.01% of the company's stock.
APA Trading Down 4.3 %
The firm has a market cap of $8.79 billion, a P/E ratio of 3.14 and a beta of 3.29. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $32.56 and a 200-day moving average of $34.25.
APA Company Profile
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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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