APA (NASDAQ:APA) Sets New 1-Year Low on Disappointing Earnings

APA Co. (NASDAQ:APA) shares reached 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 trading hands. 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 $0.88 by ($0.10). 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 analyst estimates of $1.89 billion. During the same quarter last year, the business earned $1.19 EPS. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Monday, April 22nd will be given a $0.25 dividend. The ex-dividend date is Friday, April 19th. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. APA’s dividend payout ratio (DPR) is 10.78%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on APA shares. Piper Sandler boosted their price target on shares of APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, April 19th. Morgan Stanley restated an “underweight” rating and set a $28.00 price target on shares of APA in a research report on Monday, April 15th. Barclays lowered their price target on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday. Johnson Rice lowered shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Friday, January 5th. Finally, Truist Financial decreased their target price on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in APA by 28.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock worth $1,193,000 after acquiring an additional 7,461 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in APA by 3.2% during the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock worth $44,412,000 after acquiring an additional 38,505 shares in the last quarter. GAMMA Investing LLC acquired a new position in APA during the 4th quarter worth approximately $95,000. AustralianSuper Pty Ltd grew its holdings in APA by 14.3% during the 4th quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after acquiring an additional 90,610 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in APA by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after acquiring an additional 24,182 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Stock Performance

The firm’s fifty day moving average price is $32.58 and its 200-day moving average price is $34.28. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 3.17 and a beta of 3.29.

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.