APA (NASDAQ:APA) Price Target Raised to $41.00

APA (NASDAQ:APA) had its price target raised by analysts at Barclays from $35.00 to $41.00 in a research note issued to investors on Tuesday,MarketScreener reports. Barclays‘s target price suggests a potential upside of 5.72% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler lifted their price objective on shares of APA from $30.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Capital One Financial increased their target price on shares of APA from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. UBS Group raised their target price on APA from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, April 17th. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised APA from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.81.

APA Stock Performance

NASDAQ APA traded down $0.02 on Tuesday, hitting $38.78. 462,053 shares of the company’s stock traded hands, compared to its average volume of 7,779,803. The firm’s 50-day moving average price is $38.97 and its two-hundred day moving average price is $30.79. The firm has a market capitalization of $13.70 billion, a PE ratio of 9.04 and a beta of 0.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. APA has a 1-year low of $16.75 and a 1-year high of $45.66.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, analysts expect that APA will post 5.06 EPS for the current year.

Insider Activity

In other news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the transaction, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. The trade was a 77.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On APA

Institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its position in shares of APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in APA during the 1st quarter worth about $28,000. Summit Securities Group LLC boosted its holdings in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the period. Atlantic Union Bankshares Corp purchased a new position in APA during the 3rd quarter valued at about $34,000. Finally, Camelot Portfolios LLC acquired a new position in APA in the 4th quarter valued at about $37,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.