Apache Corp. (APA) Posts Quarterly Earnings Results, Misses Estimates By $0.23 EPS
Apache Corp. (NYSE:APA) released its earnings data on Thursday. The company reported $1.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.80 by $0.23, American Banking and Market News reports. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.67 billion.
Shares of Apache Corp. (NYSE:APA) opened at 81.28 on Thursday. Apache Corp. has a 52 week low of $67.91 and a 52 week high of $94.84. The stock’s 50-day moving average is $83.47 and its 200-day moving average is $85.92. The company has a market cap of $32.450 billion and a P/E ratio of 12.14.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 22nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, April 17th. This is a positive change from Apache Corp.’s previous quarterly dividend of $0.20.
APA has been the subject of a number of recent research reports. Analysts at Credit Suisse downgraded shares of Apache Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $102.00 price target on the stock, down previously from $104.00. On a related note, analysts at Cowen and Company initiated coverage on shares of Apache Corp. in a research note on Monday, January 27th. They set a “market perform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Apache Corp. from $109.00 to $115.00 in a research note on Monday, January 13th. They now have an “overweight” rating on the stock. Seventeen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $99.48.
Apache Corporation (NYSE:APA) is an independent energy company, which explores for, develops, and produces natural gas, crude oil, and natural gas liquids.
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