Wolfe Research Boosts APA (NASDAQ:APA) Price Target to $39.00

APA (NASDAQ:APAGet Free Report) had its price target boosted by stock analysts at Wolfe Research from $36.00 to $39.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Wolfe Research’s target price would indicate a potential upside of 30.69% from the company’s current price.

A number of other research analysts have also commented on APA. Piper Sandler raised their price target on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Susquehanna boosted their price target on shares of APA from $30.00 to $32.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Mizuho upped their price target on shares of APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Friday, December 12th. Capital One Financial lowered their price objective on shares of APA from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Finally, UBS Group boosted their target price on APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Seven investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.39.

Read Our Latest Report on APA

APA Price Performance

Shares of NASDAQ:APA opened at $29.84 on Thursday. The firm’s 50 day moving average is $26.15 and its two-hundred day moving average is $24.45. The firm has a market capitalization of $10.58 billion, a P/E ratio of 7.48, a PEG ratio of 12.72 and a beta of 0.74. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. 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 data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $1.99 billion during 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 business’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. 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 have recently modified their holdings of APA. Deseret Mutual Benefit Administrators boosted its holdings in shares of APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares during the period. Summit Securities Group LLC lifted its position in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of APA during the 3rd quarter valued at $34,000. Camelot Portfolios LLC purchased a new position in shares of APA during the 4th quarter valued at $37,000. Finally, Spire Wealth Management grew its holdings in shares of APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after acquiring an additional 977 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Key APA News

Here are the key news stories impacting APA this week:

About APA

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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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Analyst Recommendations for APA (NASDAQ:APA)

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