Roth Mkm Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APAGet Free Report) had its price target upped by research analysts at Roth Mkm from $23.00 to $27.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has a “neutral” rating on the stock. Roth Mkm’s price objective suggests a potential downside of 7.22% from the stock’s previous close.

APA has been the subject of a number of other research reports. Johnson Rice raised APA from a “hold” rating to an “accumulate” rating and upped their price target for the company from $35.00 to $40.00 in a research report on Thursday, December 4th. Citigroup upped their target price on APA from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Morgan Stanley cut their price target on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, January 23rd. Barclays set a $24.00 price objective on shares of APA in a report on Wednesday, January 21st. Finally, UBS Group lifted their target price on shares of APA from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Seven investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.39.

View Our Latest Report on APA

APA Stock Performance

NASDAQ:APA opened at $29.10 on Thursday. APA has a twelve month low of $13.58 and a twelve month high of $30.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a market cap of $10.32 billion, a P/E ratio of 7.29, a PEG ratio of 12.72 and a beta of 0.74. The business’s 50-day moving average price is $26.15 and its two-hundred day moving average price is $24.45.

APA (NASDAQ:APAGet Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.29. APA had a return on equity of 20.08% and a net margin of 15.55%.The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. APA’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, equities analysts predict that APA will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Several institutional investors have recently modified their holdings of the business. Deseret Mutual Benefit Administrators raised its position in APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after buying an additional 891 shares during the last quarter. Summit Securities Group LLC boosted its holdings in APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in APA in the 3rd quarter worth approximately $34,000. Spire Wealth Management raised its stake in 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 buying an additional 977 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new position in shares of APA during the 4th quarter valued at $37,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

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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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