APA (NASDAQ:APA) Sets New 52-Week High Following Dividend Announcement

APA Corporation (NASDAQ:APA) shares hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $47.44 and last traded at $47.41, with a volume of 6426263 shares traded. The stock had previously closed at $45.03.

The newly announced dividend which will be paid on Monday, November 23rd. Shareholders of record on Thursday, October 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, October 22nd. APA’s payout ratio is presently 21.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Stephens boosted their price target on APA from $43.00 to $47.00 in a research note on Wednesday, June 10th. Wall Street Zen raised shares of APA from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Susquehanna lifted their price objective on shares of APA from $45.00 to $47.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of APA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. Finally, Truist Financial increased their target price on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Ten research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.97.

APA Trading Up 1.5%

The business has a 50 day moving average of $39.94 and a two-hundred day moving average of $37.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 0.79 and a beta of 0.37.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company posted $0.87 EPS. Equities analysts predict that APA Corporation will post 5.7 EPS for the current year.

More APA News

Here are the key news stories impacting APA this week:

• Positive Sentiment: APA maintained its quarterly dividend at $0.25 per share, equivalent to an annualized $1.00 and an indicated yield of approximately 2.2%. The dividend is payable November 23 to shareholders of record October 22. APA Keeps Quarterly Dividend at $0.25 a Share; Approves Additional Buyback Authorization
• Positive Sentiment: Technical analysts said APA may have broken above longstanding resistance near $45, potentially signaling that selling pressure is easing and a new uptrend is developing. The stock also recently reached a new 52-week high, reinforcing the positive momentum narrative. Stock of the Day: Did APA Corporation Break Major Resistance?
• Positive Sentiment: Zacks highlighted APA as a potentially strong growth stock, which may attract growth, value and momentum-oriented investors. Here’s Why APA Is a Strong Growth Stock
• Neutral Sentiment: Brokers issued updated forecasts for APA’s fourth-quarter earnings, but the available report does not provide enough detail to determine whether the revisions are favorable or unfavorable. Brokers Issue Forecasts for APA’s Q4 Earnings
• Negative Sentiment: APA recently underperformed the broader market, declining 5.53% in the prior session. That weakness may reflect profit-taking or broader energy-sector pressure and remains a near-term risk despite the subsequent recovery. Here’s Why APA Fell More Than the Broader Market

APA announced that its board has initiated a stock repurchase plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC purchased a new position in shares of APA in the 2nd quarter worth approximately $835,000. Engineers Gate Manager LP bought a new position in shares of APA in the second quarter valued at approximately $1,468,000. Thrivent Financial for Lutherans increased its position in shares of APA by 85.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 80,815 shares of the company’s stock valued at $1,976,000 after acquiring an additional 37,180 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of APA by 20.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 193,102 shares of the company’s stock valued at $4,723,000 after acquiring an additional 32,357 shares during the last quarter. Finally, Prudential PLC lifted its holdings in APA by 753.2% during the fourth quarter. Prudential PLC now owns 136,744 shares of the company’s stock worth $3,345,000 after acquiring an additional 120,717 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

APA Corporation (NASDAQ: APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company operates through subsidiaries and manages upstream assets spanning exploration, drilling, production and related field-development activities.

APA’s principal producing operations are in the Permian Basin of the United States and in Egypt. The company has also pursued offshore exploration opportunities in Suriname, where it has participated in drilling and appraisal activities in the country’s offshore blocks.