12 52-Week Low Dividend Stocks To Consider

6. APA Corporation (NASDAQ:APA)

Number of Hedge Fund Holders: 31

1-Year Share Price Decline as of  September 4: 41.2%

52 Week Range: $25.85 – $44.98

An American holding company, APA Corporation (NASDAQ:APA)’s subsidiaries explore for and produce oil and natural gas in the US, Egypt, and the UK. The stock is down by over 27% since the start of 2024 and has fallen by over 41% in the past year. Due to this, on the business front, the company took several steps to expand its energy infrastructure portfolio and drive growth. In the second quarter of 2024, it reported production of 473,000 barrels of oil equivalent (BOE) per day. Adjusted production, excluding Egypt’s noncontrolling interest and tax barrels, was 405,000 BOE per day. Its revenue for the quarter came in at $2.8 billion, up significantly from $1.9 billion in the same period last year.

Although APA Corporation (NASDAQ:APA) has posted strong earnings, analysts have yet to give it the green light, as they still expect the company to encounter business headwinds. Ariel Investments also mentioned in its Q2 2024 investor letter:

“Oil and natural gas explorer, APA Corporation (NASDAQ:APA, also traded lower in the quarter following an earnings miss. Weaker than expected production guidance and an upcoming increase in capital investment weighed on investor sentiment. Additionally, the company’s pending acquisition of Callon Petroleum Company, which stands to enhance the scale of APA’s existing Delaware Basin assets and appears accretive to key financial metrics in late 2024 and beyond, is still being digested by investors. Nonetheless, APA continues to deliver strong well performance in the Permian Basin and express confidence in its Suriname development, as it continues to work with TotalEnergies to complete a plan for the oil hub. Management remains focused on free cash flow generation and returning capital to shareholders.”

For dividend investors, APA Corporation (NASDAQ:APA)’s cash position is solid enough to meet their expectations. In the most recent quarter, the company reported an operating cash flow of $877 million. It ended the quarter with $160 million available in cash and cash equivalents, up from $87 million six months ago. This strong cash generation also allowed the company to return $135 million to shareholders through dividends and share repurchases during the quarter. It currently offers a quarterly dividend of $0.35 per share and has a dividend yield of 3.83%, as of September 4.

At the end of the June quarter of 2024, 31 hedge funds owned stakes in APA Corporation (NASDAQ:APA), as per Insider Monkey’s database. These stakes have a collective value of over $294.5 million. Among these hedge funds, Harris Associates was the company’s largest stakeholder in Q2.