APA (NASDAQ:APA) Price Target Raised to $36.00 at Mizuho

APA (NASDAQ:APA) had its price target boosted by investment analysts at Mizuho from $32.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Mizuho’s price target would indicate a potential downside of 4.00% from the stock’s current price.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Evercore boosted their target price on shares of APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, March 24th. Roth Mkm boosted their target price on shares of APA from $27.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Jefferies Financial Group boosted their target price on shares of APA from $26.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, April 13th. Finally, Sanford C. Bernstein boosted their target price on shares of APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.96.

APA Stock Performance

Shares of APA stock opened at $37.50 on Wednesday. The company has a 50 day moving average price of $39.03 and a 200-day moving average price of $30.90. APA has a 52 week low of $16.75 and a 52 week high of $45.66. The firm has a market capitalization of $13.25 billion, a PE ratio of 8.74 and a beta of 0.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, equities research analysts expect that APA will post 5.06 earnings per share for the current year.

Insider Activity at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the sale, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark D. Maddox sold 9,800 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president directly owned 66,810 shares in the company, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The SEC filing for this sale provides additional information. 0.73% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors increased its position in APA by 3.5% during the first quarter. Arkadios Wealth Advisors now owns 79,048 shares of the company’s stock valued at $3,355,000 after acquiring an additional 2,703 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in shares of APA by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after purchasing an additional 330 shares during the last quarter. Amundi bought a new position in shares of APA in the first quarter worth about $584,000. EverSource Wealth Advisors LLC grew its holdings in shares of APA by 27.5% in the first quarter. EverSource Wealth Advisors LLC now owns 5,482 shares of the company’s stock worth $233,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Empyrean Capital Partners LP bought a new position in shares of APA in the first quarter worth about $6,026,000. Institutional investors own 83.01% of the company’s stock.

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.