Apache Co. (NYSE:APA) announced a quarterly dividend on Friday, February 8th, RTT News reports. Investors of record on Monday, April 22nd will be paid a dividend of 0.25 per share by the energy company on Wednesday, May 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, April 18th.
Apache has increased its dividend payment by an average of 10.1% per year over the last three years. Apache has a dividend payout ratio of 57.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Apache to earn $1.75 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 57.1%.
APA traded up $0.45 during trading on Thursday, reaching $31.06. 3,755,634 shares of the company were exchanged, compared to its average volume of 4,422,656. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 4.70 and a beta of 1.72. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.23. Apache has a 12-month low of $24.56 and a 12-month high of $50.03.
In other news, Director John E. Lowe acquired 5,000 shares of Apache stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $30.25 per share, for a total transaction of $151,250.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $756,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on APA shares. BMO Capital Markets upped their target price on Apache from $30.00 to $36.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Seaport Global Securities restated a “hold” rating on shares of Apache in a research note on Wednesday, January 30th. Barclays started coverage on Apache in a research note on Wednesday, January 16th. They issued an “underweight” rating and a $29.00 target price on the stock. Morgan Stanley set a $27.00 target price on Apache and gave the stock a “sell” rating in a research note on Tuesday, January 29th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $35.00 target price on shares of Apache in a research note on Wednesday, January 9th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.82.
Apache Company Profile
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids (NGLs). The company has operations in onshore assets located in the Permian and Midcontinent/Gulf Coast onshore regions; and offshore assets situated in the Gulf of Mexico region.
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