Capital One Financial Raises APA (NASDAQ:APA) Price Target to $51.00

APA (NASDAQ:APA) had its target price boosted by equities research analysts at Capital One Financial from $32.00 to $51.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. Capital One Financial‘s target price would suggest a potential upside of 20.64% from the stock’s current price.

APA has been the topic of a number of other reports. Benchmark lifted their target price on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Barclays raised APA from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock in a report on Monday. Zacks Research upgraded APA from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. TD Cowen upgraded shares of APA to a “hold” rating in a research note on Monday, February 9th. Finally, BMO Capital Markets increased their price objective on shares of APA from $30.00 to $35.00 and gave the company a “market perform” rating in a research note on Tuesday, March 3rd. Seven analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and a consensus price target of $32.96.

APA Price Performance

NASDAQ:APA opened at $42.27 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82. APA has a one year low of $13.58 and a one year high of $41.81. The company has a fifty day moving average price of $29.99 and a 200 day moving average price of $26.21. The stock has a market cap of $14.93 billion, a P/E ratio of 10.59 and a beta of 0.67.

APA (NASDAQ:APA) last posted its quarterly 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. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. The business’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Analysts anticipate that APA will post 4.03 earnings per share for the current year.

Insider Transactions at APA

In other APA news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares in the company, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators increased its position in shares of APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. Summit Securities Group LLC boosted its position in 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 buying an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new position in APA in the third quarter valued at about $34,000. Spire Wealth Management grew its stake in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of APA during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.