U.S. energy firm
) declared quarterly cash dividend of 25 cents per share,
reflecting a significant sequential hike of 25.0% from the
previous payout of 20 cents. The new dividend is likely to be
paid on May 22, 2014, to shareholders of record as of Apr 22,
2014. Apache had approved a quarterly dividend hike of 18.0% and
13.0% in 2013 and 2012, respectively.
If the recently announced dividend is maintained for a year, the
annualized dividend payout of the company will stand at $1.00 per
share. Based on the closing price of $79.92 as on Feb 6, 2014,
the proposed dividend affirms a yield of around 1.3%.
The dividend hike not only highlights Apache's commitment to
create value for shareholders but also underlines the oil and gas
explorer's healthy financial condition and confidence in its
business prospects. Management added that the latest dividend
increase reflects Apache's strong confidence regarding its
potential to execute near-term growth projects.
Marathon Oil Corp.
), an upstream operator like Apache, recently hiked its quarterly
dividend. The raised dividend stands at 19 cents per share,
reflecting a sequential rise of 12.0%.
Apache plans to report its fourth-quarter 2013 results on Feb 13,
2014, before the opening bell. The Zacks Consensus Estimate for
Apache's fourth-quarter earnings is pegged at $1.82 per share.
Houston, Texas-based Apache currently retains a Zacks Rank #3
(Hold), implying that it is expected to perform in line with the
broader U.S. equity market over the next one to three
Meanwhile, one can look at better-ranked players in the oil and
gas production sector like
Athlon Energy Inc.
Cabot Oil & Gas Corp.
). Both the stocks sport a Zacks Rank #1 (Strong Buy).
APACHE CORP (APA): Free Stock Analysis Report
ATHLON ENERGY (ATHL): Free Stock Analysis
CABOT OIL & GAS (COG): Free Stock Analysis
MARATHON OIL CP (MRO): Free Stock Analysis
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