APA (NASDAQ:APA) Receives Sector Perform Rating from Royal Bank of Canada

APA (NASDAQ:APAGet Free Report)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They presently have a $41.00 price objective on the stock. Royal Bank of Canada’s price target points to a potential upside of 43.56% from the stock’s previous close.

APA has been the topic of a number of other research reports. Susquehanna raised their target price on APA from $54.00 to $57.00 and gave the company a “positive” rating in a report on Tuesday, May 7th. Evercore ISI downgraded APA from an “outperform” rating to an “inline” rating and reduced their target price for the company from $52.00 to $39.00 in a report on Friday, June 14th. Citigroup cut their price objective on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Mizuho raised their price objective on APA from $34.00 to $35.00 and gave the company an “underperform” rating in a report on Tuesday, May 21st. Finally, Truist Financial cut their price objective on APA from $59.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.33.

Read Our Latest Research Report on APA

APA Price Performance

NASDAQ APA traded down $0.23 on Wednesday, hitting $28.56. 105,209 shares of the company’s stock were exchanged, compared to its average volume of 6,439,724. The stock has a 50-day moving average of $29.45 and a 200-day moving average of $31.42. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 3.20, a P/E/G ratio of 0.34 and a beta of 3.26. APA has a 52 week low of $27.17 and a 52 week high of $46.15. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42.

APA (NASDAQ:APAGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a net margin of 34.04% and a return on equity of 45.32%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.19 EPS. Analysts expect that APA will post 4.5 earnings per share for the current year.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in APA by 25.4% in the 2nd quarter. CWM LLC now owns 11,604 shares of the company’s stock valued at $342,000 after buying an additional 2,349 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in APA during the 2nd quarter valued at about $435,000. Mather Group LLC. boosted its stake in APA by 34.4% during the 2nd quarter. Mather Group LLC. now owns 3,757 shares of the company’s stock valued at $111,000 after purchasing an additional 962 shares during the last quarter. DNB Asset Management AS boosted its stake in APA by 39.3% during the 2nd quarter. DNB Asset Management AS now owns 73,200 shares of the company’s stock valued at $2,155,000 after purchasing an additional 20,654 shares during the last quarter. Finally, Moody National Bank Trust Division acquired a new position in APA during the 2nd quarter valued at about $478,000. 83.01% of the stock is owned by institutional investors.

About APA

(Get Free Report)

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.

Read More

Analyst Recommendations for APA (NASDAQ:APA)

Receive News & Ratings for APA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for APA and related companies with MarketBeat.com's FREE daily email newsletter.