APA (APA) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of APA (NASDAQ: APA) in the last few weeks:

• 8/15/2024 – APA had its price target lowered by analysts at Piper Sandler from $34.00 to $29.00. They now have a “neutral” rating on the stock.
• 8/14/2024 – APA had its price target lowered by analysts at Wells Fargo & Company from $50.00 to $49.00. They now have an “overweight” rating on the stock.
• 8/6/2024 – APA had its price target lowered by analysts at UBS Group AG from $38.00 to $35.00. They now have a “neutral” rating on the stock.
• 8/2/2024 – APA had its price target raised by analysts at Truist Financial Co. from $45.00 to $46.00. They now have a “buy” rating on the stock.
• 7/22/2024 – APA had its price target lowered by analysts at Truist Financial Co. from $52.00 to $45.00. They now have a “buy” rating on the stock.
• 7/18/2024 – APA is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $42.00 price target on the stock.
• 7/18/2024 – APA had its price target raised by analysts at Piper Sandler from $33.00 to $34.00. They now have a “neutral” rating on the stock.
• 7/17/2024 – APA had its price target lowered by analysts at Sanford C. Bernstein from $37.00 to $30.00. They now have a “market perform” rating on the stock.
• 7/12/2024 – APA had its price target lowered by analysts at Scotiabank from $37.00 to $30.00. They now have a “sector perform” rating on the stock.
• 7/12/2024 – APA had its price target lowered by analysts at Truist Financial Co. from $53.00 to $52.00. They now have a “buy” rating on the stock.
• 7/10/2024 – APA had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $41.00 price target on the stock.

APA Stock Performance

NASDAQ:APA opened at $28.34 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.16. APA Co. has a 1-year low of $26.81 and a 1-year high of $46.15. The business has a 50 day moving average of $29.46 and a 200 day moving average of $30.74. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 3.17 and a beta of 3.26.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business posted $0.85 EPS. The firm’s revenue was up 41.6% compared to the same quarter last year. On average, sell-side analysts predict that APA Co. will post 4.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American National Bank raised its holdings in APA by 208.5% in the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Covestor Ltd raised its position in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of APA in the 4th quarter valued at $39,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of APA in the 2nd quarter worth $42,000. Institutional investors own 83.01% of the company’s stock.

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.