APA (NASDAQ:APA) Price Target Raised to $35.00

APA (NASDAQ:APA) had its price target increased by stock analysts at Piper Sandler from $33.00 to $35.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.86% from the stock’s current price.

Several other research firms have also issued reports on APA. Barclays started coverage on shares of APA in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $40.00 price target on the stock. Roth Mkm boosted their price objective on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. StockNews.com raised shares of APA from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 price objective (down previously from $43.00) on shares of APA in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, APA has a consensus rating of “Hold” and an average price target of $41.90.

APA Stock Performance

Shares of NASDAQ APA traded up $0.27 during midday trading on Friday, hitting $32.45. The company’s stock had a trading volume of 2,599,588 shares, compared to its average volume of 6,868,619. The stock has a fifty day moving average price of $32.32 and a 200 day moving average price of $34.72. APA has a one year low of $29.47 and a one year high of $46.15. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 3.51 and a beta of 3.27.

APA (NASDAQ:APA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the firm earned $1.48 EPS. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, research analysts forecast that APA will post 4.85 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. American National Bank raised its holdings in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares during the last quarter. Covestor Ltd raised its holdings in APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after buying an additional 437 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in APA during the 3rd quarter valued at $34,000. Quent Capital LLC raised its holdings in APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after buying an additional 375 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in APA during the 4th quarter valued at $34,000. 83.01% of the stock is currently owned by institutional investors.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.