Raymond James Financial Lowers APA (NASDAQ:APA) Price Target to $50.00

APA (NASDAQ:APA) had its price objective dropped by research analysts at Raymond James Financial from $57.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price objective suggests a potential upside of 45.35% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein raised their price target on APA from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, May 20th. Stephens increased their price target on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Mizuho lifted their price target on shares of APA from $32.00 to $36.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 27th. Scotiabank boosted their price objective on shares of APA from $26.00 to $36.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group increased their target price on shares of APA from $26.00 to $36.00 and gave the company a “hold” rating in a report on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.58.

APA Price Performance

APA stock traded up $0.96 during mid-day trading on Monday, hitting $34.40. 670,790 shares of the company traded hands, compared to its average volume of 7,212,412. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. APA has a one year low of $17.86 and a one year high of $45.66. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 8.00 and a beta of 0.35. The stock has a fifty day moving average price of $36.10 and a 200-day moving average price of $33.23.

APA (NASDAQ:APA) last issued 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. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS. On average, equities analysts predict that APA will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling at APA

In other news, VP Mark D. Maddox sold 9,800 shares of APA stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value 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. This trade represents a 12.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of APA

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management increased its stake in shares of APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of APA in the 1st quarter worth approximately $28,000. Global Assets Advisory LLC bought a new stake in shares of APA in the 1st quarter worth approximately $44,000. Altshuler Shaham Ltd grew its stake in shares of APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after buying an additional 330 shares during the last quarter. Finally, Summit Securities Group LLC increased its position in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after buying an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

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.