APA (NASDAQ:APA) Posts Earnings Results, Beats Expectations By $0.22 EPS

APA (NASDAQ:APA) announced its earnings results on Wednesday. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22, Briefing.com reports. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS.

APA Stock Down 0.4 %

Shares of APA stock traded down $0.11 during trading hours on Thursday, reaching $31.08. 9,326,087 shares of the company were exchanged, compared to its average volume of 6,289,438. The firm has a market cap of $11.54 billion, a PE ratio of 3.48 and a beta of 3.26. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. APA has a 1 year low of $27.17 and a 1 year high of $46.15. The stock’s fifty day moving average is $29.70 and its 200 day moving average is $31.00.

APA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Monday, July 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Monday, July 22nd. APA’s payout ratio is currently 11.19%.

Analysts Set New Price Targets

APA has been the subject of several analyst reports. Scotiabank decreased their price objective on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Truist Financial decreased their target price on shares of APA from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Susquehanna raised their price target 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. Finally, Wolfe Research initiated coverage on shares of APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective for the company. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.86.

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.