APA Corporation (APA) to Issue Quarterly Dividend of $0.25 on August 21st

APA Corporation (NASDAQ:APA) announced a quarterly dividend on Wednesday, May 20th. Stockholders of record on Wednesday, July 22nd will be paid a dividend of 0.25 per share on Friday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, July 22nd.

APA has increased its dividend by an average of 0.2%per year over the last three years. APA has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect APA to earn $3.44 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 29.1%.

APA Stock Performance

Shares of NASDAQ:APA opened at $38.34 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50 day moving average price is $38.75 and its 200-day moving average price is $30.56. The firm has a market capitalization of $13.55 billion, a PE ratio of 8.94 and a beta of 0.38. APA has a 1 year low of $16.15 and a 1 year high of $45.66.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The business’s revenue was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, equities research analysts expect that APA will post 5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On APA

A number of institutional investors have recently added to or reduced their stakes in APA. Arrowstreet Capital Limited Partnership lifted its position in APA by 1,726.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,834,502 shares of the company’s stock worth $205,176,000 after buying an additional 4,569,779 shares in the last quarter. Goldman Sachs Group Inc. raised its position in APA by 76.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock valued at $175,426,000 after purchasing an additional 3,117,032 shares during the period. AQR Capital Management LLC raised its position in APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after purchasing an additional 1,869,891 shares during the period. Morgan Stanley raised its position in APA by 21.8% in the fourth quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock valued at $255,010,000 after purchasing an additional 1,864,900 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in APA by 13.6% in the third quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock valued at $340,657,000 after purchasing an additional 1,674,739 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

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.