APA (NASDAQ:APA) PT Raised to $39.00

Posted by on Jul 16th, 2023

APA (NASDAQ:APA – Get Free Report) had its price objective raised by equities researchers at Mizuho from $37.00 to $39.00 in a report issued on Friday, Marketbeat reports. The firm currently has an “underperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 6.44% from the stock’s previous close.

Other analysts have also issued research reports about the company. Raymond James upped their target price on APA from $49.00 to $53.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 21st. The Goldman Sachs Group lowered shares of APA from a “neutral” rating to a “sell” rating and set a $30.00 target price on the stock. in a report on Wednesday. Benchmark initiated coverage on shares of APA in a research note on Wednesday. They issued a “buy” rating and a $46.00 price target for the company. VNET Group reaffirmed a “maintains” rating on shares of APA in a research note on Wednesday, June 14th. Finally, Morgan Stanley boosted their target price on APA from $36.00 to $38.00 in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

APA Trading Down 5.1 %

Shares of APA stock opened at $36.64 on Friday. The company has a 50 day simple moving average of $33.94 and a two-hundred day simple moving average of $36.20. The company has a debt-to-equity ratio of 4.04, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $11.31 billion, a PE ratio of 5.96, a PEG ratio of 6.88 and a beta of 3.49. APA has a 1 year low of $30.15 and a 1 year high of $50.58.

APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Thursday, May 4th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.21. APA had a net margin of 19.72% and a return on equity of 158.38%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The firm’s quarterly revenue was down 47.0% compared to the same quarter last year. Analysts expect that APA will post 4.72 earnings per share for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. lifted its position in APA by 110.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 561 shares of the company’s stock valued at $26,000 after purchasing an additional 295 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of APA during the 4th quarter valued at $30,000. Covestor Ltd boosted its stake in shares of APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after buying an additional 437 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of APA by 100.0% in the fourth quarter. Achmea Investment Management B.V. now owns 784 shares of the company’s stock worth $34,000 after acquiring an additional 392 shares during the period. Finally, Money Concepts Capital Corp increased its position in APA by 228.6% during the fourth quarter. Money Concepts Capital Corp now owns 723 shares of the company’s stock valued at $34,000 after acquiring an additional 503 shares during the last quarter. 80.67% of the stock is currently owned by hedge funds and other institutional investors.

About APA

(Get Free Report)

APA Corporation, through its subsidiaries, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, compression, processing, and transmission assets in West Texas, as well as holds ownership in four Permian Basin long-haul pipeline.

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