APA (NASDAQ:APA) Price Target Raised to $24.00

APA (NASDAQ:APAGet Free Report) had its price objective increased by equities researchers at Mizuho from $22.00 to $24.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm presently has an “underperform” rating on the stock. Mizuho’s target price points to a potential downside of 19.58% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler upped their price objective on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. TD Cowen upgraded shares of APA to a “hold” rating in a report on Monday, February 9th. Royal Bank Of Canada boosted their price objective on APA from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Evercore increased their target price on APA from $21.00 to $25.00 in a research report on Thursday. Finally, Roth Mkm increased their price target on shares of APA from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.39.

View Our Latest Analysis on APA

APA Stock Up 2.5%

Shares of NASDAQ:APA opened at $29.84 on Thursday. The business’s 50 day moving average is $26.15 and its 200 day moving average is $24.45. APA has a 12-month low of $13.58 and a 12-month high of $30.08. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 12.72 and a beta of 0.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APAGet Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 20.08%. The business’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts forecast that APA will post 4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DGS Capital Management LLC bought a new stake in shares of APA in the 4th quarter worth $244,000. Compound Planning Inc. raised its stake in APA by 45.5% during the 4th quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock valued at $371,000 after buying an additional 4,744 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of APA by 212.2% during the 4th quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock valued at $10,195,000 after buying an additional 283,299 shares during the period. Mercer Global Advisors Inc. ADV increased its position in APA by 13.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after acquiring an additional 12,211 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in APA by 12.2% in the fourth quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock valued at $3,525,000 after acquiring an additional 15,657 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about APA

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APA Company Profile

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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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