Apache Corporation (NYSE:APA) announced a quarterly dividend on Friday, May 12th, RTT News reports. Investors of record on Friday, July 21st will be paid a dividend of 0.25 per share by the energy company on Tuesday, August 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, July 19th.
Apache Corporation has increased its dividend by an average of 9.1% per year over the last three years and has increased its dividend every year for the last 5 years. Apache Corporation has a dividend payout ratio of 126.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apache Corporation to earn $1.13 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 88.5%.
Shares of Apache Corporation (APA) opened at 48.68 on Tuesday. The stock’s market cap is $18.52 billion. The company has a 50 day moving average price of $48.33 and a 200-day moving average price of $54.10. Apache Corporation has a one year low of $44.60 and a one year high of $69.00.
Apache Corporation (NYSE:APA) last posted its quarterly earnings data on Thursday, May 4th. The energy company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.08. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Apache Corporation had a negative return on equity of 1.27% and a negative net margin of 13.34%. During the same period in the previous year, the business posted ($0.40) EPS. Equities analysts predict that Apache Corporation will post $0.60 earnings per share for the current fiscal year.
In related news, Director Rene R. Joyce purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $51.38 per share, for a total transaction of $513,800.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $513,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by company insiders.
A number of research firms recently weighed in on APA. Jefferies Group LLC reaffirmed a “sell” rating and set a $40.00 price objective on shares of Apache Corporation in a research report on Wednesday, May 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price objective on shares of Apache Corporation in a research report on Monday, May 15th. Barclays PLC reaffirmed a “sell” rating and set a $41.00 price objective (down previously from $50.00) on shares of Apache Corporation in a research report on Thursday, April 20th. Zacks Investment Research cut shares of Apache Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub raised shares of Apache Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $57.90.
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About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. It has production in four segments: the United States, Canada, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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