APA (NASDAQ:APA) Stock Price Expected to Rise, Roth Mkm Analyst Says

APA (NASDAQ:APAGet Free Report) had its target price hoisted by investment analysts at Roth Mkm from $23.00 to $27.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target points to a potential downside of 7.22% from the stock’s previous close.

Several other research firms have also issued reports on APA. Zacks Research lowered shares of APA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Morgan Stanley decreased their price objective on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Friday, January 23rd. Mizuho increased their price target on APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a research report on Friday, December 12th. Stephens lifted their price objective on APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 17th. Finally, William Blair initiated coverage on APA in a report on Wednesday, November 26th. They set an “outperform” rating and a $32.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.39.

Get Our Latest Analysis on APA

APA Stock Performance

NASDAQ:APA opened at $29.10 on Thursday. The firm’s 50-day moving average is $26.15 and its 200-day moving average is $24.45. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 12.72 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. APA has a 52-week low of $13.58 and a 52-week high of $30.08.

APA (NASDAQ:APAGet Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 20.08% and a net margin of 15.55%.The company’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. Equities research analysts anticipate that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. DGS Capital Management LLC bought a new position in APA in the fourth quarter valued at $244,000. Compound Planning Inc. increased its stake in APA by 45.5% during the 4th quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock worth $371,000 after acquiring an additional 4,744 shares during the period. Corient Private Wealth LLC boosted its position in shares of APA by 212.2% during the 4th quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock worth $10,195,000 after acquiring an additional 283,299 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of APA by 13.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after purchasing an additional 12,211 shares during the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of APA by 12.2% in the 4th quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock valued at $3,525,000 after acquiring an additional 15,657 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

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APA Company Profile

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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.

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