APA (NASDAQ:APA) Price Target Raised to $35.00

APA (NASDAQ:APA) had its price objective raised by research analysts at Piper Sandler from $33.00 to $35.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 7.86% from the stock’s current price.

APA has been the topic of a number of other reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $28.00 price objective on shares of APA in a research note on Monday. Raymond James reduced their price objective on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Mizuho reduced their price objective on shares of APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a research note on Friday, March 15th. Truist Financial reduced their price target on shares of APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Johnson Rice cut shares of APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Friday, January 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $41.90.

APA Price Performance

Shares of APA traded up $0.27 during mid-day trading on Friday, hitting $32.45. 2,599,588 shares of the company traded hands, compared to its average volume of 6,868,619. APA has a one year low of $29.47 and a one year high of $46.15. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.41. The business has a 50-day moving average of $32.32 and a 200 day moving average of $34.72. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 3.51 and a beta of 3.27.

APA (NASDAQ:APA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the business posted $1.48 earnings per share. APA’s revenue was down 12.3% compared to the same quarter last year. As a group, equities analysts expect that APA will post 4.85 earnings per share for the current fiscal year.

Institutional Trading of APA

Hedge funds and other institutional investors have recently modified their holdings of the stock. American National Bank boosted its holdings in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares during the period. Covestor Ltd boosted its holdings in APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock valued at $33,000 after purchasing an additional 437 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in APA in the 3rd quarter valued at about $34,000. Quent Capital LLC boosted its holdings in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares during the period. Finally, Rakuten Securities Inc. bought a new stake in APA in the 4th quarter valued at about $34,000. Institutional investors own 83.01% of the company’s stock.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.