APA Corporation (NASDAQ:APA) finished Friday with a subtraction of -$1.13 to close at $41.10, a downside of -2.68 percent. An average of 2,901,820 shares of common stock have been traded in the last five days. There was a gain of $0.88 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 4,011,915 shares traded, while the 50-day average volume stands at 3,995,960.
APA stock has decreased by -5.99% in the last month. The company shares reached their 1-month lowest point of $39.97 on 09/21/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $30.67 and a high of $50.58 in 52 weeks. It has reached a new high 2 times so far this year and lost -11.95% or -$5.58 in price. In spite of this, the price is down -18.74% from the 52-week high.
Valuation Metrics
APA Corporation (APA) has a trailing price-to-earnings (P/E) ratio of 8.81. The stock’s beta is 3.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.38, the price-to-book (PB) ratio at 17.81, and the price-to-cash flow ratio at 7.50.
The company has a payout ratio of 6.80%. The company’s most recent quarterly dividend payment was $0.25 a share, without any change from last year. Its latest increase dividend $0.1250 reported on Wednesday September 14 2022.
Financial Health
The quick ratio of APA Corporation for the three months ended June 29 was 0.80, and the current ratio was 0.99, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 7.86 and a total debt to equity ratio of 8.01 for the quarter ending June 29. Its gross profit as reported stood at $5.73 billion compared to revenue of $12.13 billion.
Earnings Surprise
For the three-month period that ended June 29, APA Corporation had $5.8 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $242.0 million in the quarter, while revenues of $2.44 billion were grew 146.69%. The analyst consensus anticipated APA Corporation’s latest quarter earnings to come in at $0.75 per share, but it turned out to be $0.85, a 13.30% surprise. For the quarter, EBITDA amounted to $1.07 billion. Shareholders own equity worth $307.26 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at APA Corporation (APA) price momentum. RSI 9-day as of the close on 29 September was 41.76%, suggesting the stock is Neutral, with historical volatility in this time frame at 30.63%.
As of today, APA’s price is $41.56 +2.19% or $0.88 from its 5-day moving average. APA is currently trading -6.25% lower than its 20-day SMA and +24.24% higher than its 100-day SMA. However, the stock’s current price level is +8.24% above the SMA50 and -6.40% below the SMA200.
The stochastic %K and %D were 41.12% and 37.10%, respectively, and the average true range (ATR) was 1.26. With the 14-day stochastic at 25.68% and the average true range at 1.26, the RSI (14) stands at 44.10%. The stock has reached 0.62 on the 9-day MACD Oscillator while the 14-day reading was at 0.04.
Analyst Ratings
The Benchmark Company launched coverage on APA Corporation (NASDAQ: APA) in its analyst report released on July 13, 2023. The firm assigned the stock a Buy rating.
