APA (NASDAQ:APA) Upgraded to Hold at Wells Fargo & Company

APA (NASDAQ:APA) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a report released on Wednesday, Zacks reports.

Other research analysts have also issued reports about the company. Susquehanna increased their price objective on APA from $45.00 to $47.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. KeyCorp set a $46.00 target price on APA in a research report on Wednesday, August 12th. Benchmark raised their price objective on shares of APA from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Raymond James Financial upped their target price on shares of APA from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Roth Capital set a $39.00 price target on shares of APA in a research report on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.68.

APA Stock Performance

Shares of APA stock opened at $44.69 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. APA has a 12-month low of $21.57 and a 12-month high of $45.66. The business’s 50 day moving average is $37.41 and its two-hundred day moving average is $36.74. The company has a market capitalization of $15.66 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.80 and a beta of 0.37.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Analysts expect that APA will post 5.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APA. Hollencrest Capital Management lifted its holdings 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 purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of APA during the 1st quarter worth $28,000. Summit Securities Group LLC lifted its stake in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares during the period. MidFirst Bank purchased a new stake in APA during the second quarter worth about $33,000. Finally, Compass Financial Management LLC acquired a new position in APA during the second quarter worth about $33,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.