APA (NASDAQ:APA) Price Target Cut to $38.00

APA (NASDAQ:APA) had its price target decreased by investment analysts at Barclays from $40.00 to $38.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 28.34% from the stock’s previous close.

Several other research firms have also recently weighed in on APA. Piper Sandler boosted their price target on APA from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, April 19th. Scotiabank restated a “sector perform” rating and set a $37.00 price target (down from $43.00) on shares of APA in a report on Tuesday, January 16th. Johnson Rice cut APA from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, January 5th. JPMorgan Chase & Co. upped their target price on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, Roth Mkm boosted their price target on APA from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, APA has an average rating of “Hold” and a consensus target price of $42.05.

APA Stock Down 2.9 %

Shares of APA traded down $0.89 during mid-day trading on Thursday, hitting $29.61. 3,553,825 shares of the company’s stock were exchanged, compared to its average volume of 6,760,153. The company has a market cap of $8.92 billion, a PE ratio of 3.19 and a beta of 3.29. The company has a 50-day simple moving average of $32.56 and a 200 day simple moving average of $34.25. APA has a 52 week low of $29.25 and a 52 week high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm earned $1.19 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that APA will post 5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Palisade Asset Management LLC bought a new stake in shares of APA in the 1st quarter valued at approximately $1,141,000. Resonant Capital Advisors LLC acquired a new position in shares of APA in the 1st quarter valued at about $216,000. Janney Montgomery Scott LLC lifted its holdings in shares of APA by 10.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 106,633 shares of the company’s stock valued at $3,666,000 after buying an additional 10,218 shares during the period. Peterson Wealth Services lifted its holdings in shares of APA by 131.0% in the 1st quarter. Peterson Wealth Services now owns 72,243 shares of the company’s stock valued at $2,484,000 after buying an additional 40,969 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of APA by 208.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 182,640 shares of the company’s stock valued at $6,367,000 after buying an additional 123,404 shares during the period. 83.01% of the stock is owned by institutional investors.

APA Company Profile

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.