APA (NASDAQ:APA) Releases Earnings Results, Beats Estimates By $0.29 EPS

APA (NASDAQ:APA) posted its quarterly earnings data on Wednesday. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29, Zacks reports. APA had a net margin of 15.49% and a return on equity of 19.86%.

APA Stock Performance

Shares of APA stock traded down $0.78 on Wednesday, hitting $27.84. The company had a trading volume of 6,318,977 shares, compared to its average volume of 6,432,091. APA has a twelve month low of $13.58 and a twelve month high of $30.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.87 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 13.13 and a beta of 0.74. The company has a 50-day moving average price of $25.98 and a 200-day moving average price of $24.40.

APA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Wednesday, April 22nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, April 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. APA’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Capital One Financial reduced their target price on APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. The Goldman Sachs Group boosted their price target on APA from $21.00 to $23.00 and gave the stock a “sell” rating in a research note on Thursday, January 22nd. Piper Sandler increased their price objective on shares of APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of APA in a research note on Monday, December 29th. Finally, Susquehanna raised their price target on shares of APA from $30.00 to $32.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and a consensus price target of $26.39.

Hedge Funds Weigh In On APA

Several institutional investors have recently made changes to their positions in the company. Compound Planning Inc. increased its holdings in shares of APA by 45.5% in the fourth quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock valued at $371,000 after purchasing an additional 4,744 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of APA by 212.2% during the 4th quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock valued at $10,195,000 after acquiring an additional 283,299 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of APA by 13.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after purchasing an additional 12,211 shares during the period. Vident Advisory LLC increased its position in APA by 12.2% during the fourth quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock worth $3,525,000 after purchasing an additional 15,657 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in APA during the fourth quarter worth about $632,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.