Early on Thursday, oil and natural gas producer Apache Corporation (APA) reported a decline in profits, missing analysts expectations, despite a rise in revenue and production.
The Houston-based company reported a fourth quarter net income of $649 million, or $1.64 per share, down from $1.17 billion, or $2.98 per share, in the same quarter a year earlier.
Adjusted net income for the quarter was $907 million, or $2.27 per share, versus $1.2 billion, or $2.94 per share, in the same period a year earlier. According to Thomson Reuters, analysts were expecting APA to earn an adjusted $2.30 per share.
Revenue for the quarter rose to $4.391 billion from $4.297 billion in the year earlier quarter. Analysts were expecting Apache’s revenue t be $4.37 billion.
Apache shares were down $1.71, or -2.07%, during morning trading on Thursday. The stock is down about -23% over the past year.
The Bottom Line
Shares of Apache Corp (APA) have a dividend yield of 0.97% based on Thursday’s intraday trading price of $82.62 and the company’s annualized dividend payout of 80 cents per share.
Apache Corporation (APA) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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