APA Co. (APA) to Issue Quarterly Dividend of $0.25 on August 22nd

APA Co. (NASDAQ:APA) announced a quarterly dividend on Wednesday, May 22nd, Zacks reports. Investors of record on Monday, July 22nd will be paid a dividend of 0.25 per share on Thursday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, July 22nd.

APA has increased its dividend by an average of 45.5% annually over the last three years and has raised its dividend every year for the last 3 years. APA has a payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect APA to earn $5.27 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 19.0%.

APA Stock Up 0.4 %

NASDAQ:APA traded up $0.12 during trading hours on Friday, reaching $29.64. The company’s stock had a trading volume of 375,717 shares, compared to its average volume of 6,573,252. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 3.30 and a beta of 3.29. APA has a one year low of $28.90 and a one year high of $46.15. The business’s 50-day moving average is $32.43 and its 200-day moving average is $33.10. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16.

APA (NASDAQ:APA) last released its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. Equities research analysts predict that APA will post 4.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APA. Barclays cut their price objective on shares of APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Truist Financial cut their price objective on shares of APA from $59.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Susquehanna upped their price objective on shares of APA from $54.00 to $57.00 and gave the company a “positive” rating in a research report on Tuesday, May 7th. Roth Mkm increased their price target on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Mizuho increased their price target on shares of APA from $34.00 to $35.00 and gave the stock an “underperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.10.

APA Company Profile

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.