Apache Co. (NYSE:APA) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Investors of record on Monday, January 22nd will be given a dividend of 0.25 per share by the energy company on Thursday, February 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, January 19th.
Apache has raised its dividend payment by an average of 1.7% per year over the last three years. Apache has a payout ratio of 1,666.7% 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 to earn $0.75 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 133.3%.
Apache (APA) opened at $46.53 on Thursday. Apache has a 1 year low of $38.14 and a 1 year high of $63.36. The company has a market cap of $17,730.00, a PE ratio of 26.90, a P/E/G ratio of 8.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.37 and a current ratio of 1.53.
In related news, Director John E. Lowe purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were bought at an average cost of $40.02 per share, with a total value of $120,060.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $600,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider P Anthony Lannie sold 19,514 shares of Apache stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $44.04, for a total transaction of $859,396.56. Following the sale, the insider now directly owns 37,469 shares in the company, valued at $1,650,134.76. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Several equities analysts have commented on APA shares. Morgan Stanley raised their target price on shares of Apache from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Scotiabank set a $49.00 target price on shares of Apache and gave the company a “hold” rating in a report on Monday, November 13th. Bank of America raised their target price on shares of Apache from $41.00 to $42.00 and gave the company an “underperform” rating in a report on Monday, November 6th. BMO Capital Markets set a $45.00 target price on shares of Apache and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, Royal Bank of Canada set a $51.00 target price on shares of Apache and gave the company a “hold” rating in a report on Wednesday, December 20th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $45.94.
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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