Apache (APA) Declares $0.25 Dividend
Apache said on February 3, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of April 20, 2023 will receive the payment on May 22, 2023. Previously, the company paid $0.25 per share.
At the current share price of $42.02 / share, the stock's dividend yield is 2.38%. Looking back five years and taking a sample every week, the average dividend yield has been 1.95%, the lowest has been 0.36%, and the highest has been 5.12%. The standard deviation of yields is 1.23 (n=235).
The current dividend yield is 0.35 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Analyst Price Forecast Suggests 34.35% Upside
As of February 7, 2023, the average one-year price target for Apache is $56.45. The forecasts range from a low of $40.40 to a high of $74.55. The average price target represents an increase of 34.35% from its latest reported closing price of $42.02.
The projected annual revenue for Apache is $9,769MM, a decrease of 10.16%. The projected annual EPS is $9.61, a decrease of 8.26%.
Fund Sentiment
There are 1418 funds or institutions reporting positions in Apache. This is an increase of 49 owner(s) or 3.58%.
Average portfolio weight of all funds dedicated to US:APA is 0.2493%, a decrease of 2.0992%. Total shares owned by institutions decreased in the last three months by 5.15% to 301,208K shares.
What are large shareholders doing?
Harris Associates L P holds 13,354,110 shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 16,672,747 shares, representing a decrease of 24.85%. The firm decreased its portfolio allocation in APA by 14.78% over the last quarter.
Invesco holds 12,831,146 shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 11,610,694 shares, representing an increase of 9.51%. The firm decreased its portfolio allocation in APA by 89.35% over the last quarter.
Hotchkis & Wiley Capital Management holds 11,774,668 shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 12,046,438 shares, representing a decrease of 2.31%. The firm increased its portfolio allocation in APA by 3.41% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,748,041 shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 9,948,064 shares, representing a decrease of 2.05%. The firm increased its portfolio allocation in APA by 0.06% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 9,539,669 shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 9,451,671 shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in APA by 0.41% over the last quarter.
APA Background Information
(This description is provided by the company.)
APA Corporation, through its consolidated subsidiaries, explores for and produces oil and gas with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname.
This story originally appeared on Fintel.