APA (NASDAQ:APA) Price Target Raised to $45.00

APA (NASDAQ:APA) had its target price increased by equities researchers at UBS Group from $44.00 to $45.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 30.94% from the company’s previous close.

APA has been the subject of several other research reports. Sanford C. Bernstein raised their price objective on shares of APA from $25.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday. Wells Fargo & Company boosted their price target on shares of APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Morgan Stanley increased their target price on APA from $22.00 to $43.00 and gave the company an “underweight” rating in a report on Friday, March 27th. Evercore increased their price objective on APA from $25.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, March 24th. Finally, Piper Sandler boosted their target price on APA from $30.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Seven analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.69.

APA Price Performance

NASDAQ:APA opened at $34.37 on Friday. APA has a one year low of $15.15 and a one year high of $45.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $34.70 and a 200 day moving average price of $28.11. The stock has a market cap of $12.15 billion, a PE ratio of 8.61 and a beta of 0.49.

APA (NASDAQ:APA) last posted its 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 during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 earnings per share. Equities research analysts expect that APA will post 4.03 EPS for the current fiscal year.

Insider Activity at APA

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators boosted its stake in shares of APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after buying an additional 891 shares during the period. Summit Securities Group LLC increased its position in APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after buying an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of APA during the third quarter worth about $34,000. Spire Wealth Management lifted its holdings in shares of APA by 179.6% during the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after acquiring an additional 977 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in APA during the fourth quarter worth approximately $37,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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.