APA (NASDAQ:APA) Given New $38.00 Price Target at Barclays

APA (NASDAQ:APA) had its target price reduced by analysts at Barclays from $40.00 to $38.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 28.34% from the stock’s previous close.

A number of other analysts also recently issued reports on APA. Roth Mkm raised their price target on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Raymond James decreased their price objective on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Johnson Rice cut shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, January 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of APA from $35.00 to $31.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.05.

APA Stock Performance

Shares of NASDAQ APA traded down $0.89 during mid-day trading on Thursday, hitting $29.61. The stock had a trading volume of 3,553,825 shares, compared to its average volume of 6,760,153. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The company has a 50 day moving average of $32.56 and a two-hundred day moving average of $34.25. APA has a twelve month low of $29.25 and a twelve month high of $46.15. The firm has a market cap of $8.92 billion, a PE ratio of 3.19 and a beta of 3.29.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.10). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company posted $1.19 earnings per share. APA’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that APA will post 5.03 EPS for the current fiscal year.

Institutional Trading of APA

Institutional investors and hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its holdings in shares of APA by 28.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock valued at $1,193,000 after purchasing an additional 7,461 shares in the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in shares of APA by 3.2% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after buying an additional 38,505 shares during the period. GAMMA Investing LLC acquired a new position in APA during the fourth quarter worth approximately $95,000. AustralianSuper Pty Ltd increased its position in APA by 14.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock worth $26,053,000 after purchasing an additional 90,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in APA by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock worth $104,037,000 after purchasing an additional 24,182 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.