Fintel reports that on April 18, 2023, Wells Fargo maintained coverage of Apache (NASDAQ:APA) with a Overweight recommendation.
Analyst Price Forecast Suggests 26.25% Upside
As of April 7, 2023, the average one-year price target for Apache is $49.86. The forecasts range from a low of $33.33 to a high of $67.20. The average price target represents an increase of 26.25% from its latest reported closing price of $39.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apache is $9,769MM, a decrease of 10.87%. The projected annual non-GAAP EPS is $9.61.
Apache Declares $0.25 Dividend
On February 3, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of April 21, 2023 will receive the payment on May 22, 2023. Previously, the company paid $0.25 per share.
At the current share price of $39.49 / share, the stock's dividend yield is 2.53%. 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 1.22 (n=235).
The current dividend yield is 0.48 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.08. 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's 3-Year dividend growth rate is 9.00%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
SVSPX - State Street S&P 500 Index Fund Class N holds 13K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing a decrease of 11.32%. The firm increased its portfolio allocation in APA by 10.52% over the last quarter.
BNY MELLON STOCK INDEX FUND, INC. - BNY Mellon Stock Index Fund, Inc. - Initial Shares holds 27K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 27K shares, representing a decrease of 0.89%. The firm increased its portfolio allocation in APA by 27.11% over the last quarter.
FZFLX - Fidelity SAI Small-Mid Cap 500 Index Fund holds 124K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 39K shares, representing an increase of 68.99%. The firm decreased its portfolio allocation in APA by 11.71% over the last quarter.
Northern Trust holds 4,031K shares representing 1.30% ownership of the company. In it's prior filing, the firm reported owning 4,068K shares, representing a decrease of 0.91%. The firm increased its portfolio allocation in APA by 24.29% over the last quarter.
AGAQX - 361 Global Long holds 42K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
What is the Fund Sentiment?
There are 1452 funds or institutions reporting positions in Apache.
This is an increase
of
58
owner(s) or 4.16% in the last quarter.
Average portfolio weight of all funds dedicated to APA is 0.29%,
an increase
of 13.53%.
Total shares owned by institutions decreased
in the last three months by 5.07% to 287,441K shares.
The put/call ratio of APA is 0.81, indicating a
bullish
outlook.
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.
See all Apache regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
