APA Co. (NASDAQ:APA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of APA Co. (NASDAQ:APA) have been assigned an average rating of “Hold” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $37.81.

A number of equities analysts have weighed in on APA shares. Truist Financial boosted their price objective on APA from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Susquehanna dropped their price objective on shares of APA from $57.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday. StockNews.com downgraded shares of APA from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Scotiabank dropped their price target on shares of APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Finally, Citigroup cut their price target on shares of APA from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. increased its position in shares of APA by 13.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,598 shares of the company’s stock valued at $237,000 after purchasing an additional 760 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in APA by 20.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 11,935 shares of the company’s stock valued at $428,000 after buying an additional 2,028 shares in the last quarter. M&T Bank Corp lifted its holdings in APA by 2.4% during the 4th quarter. M&T Bank Corp now owns 20,413 shares of the company’s stock worth $733,000 after buying an additional 486 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of APA during the 4th quarter worth about $275,000. Finally, National Bank of Canada FI increased its holdings in shares of APA by 63.7% in the 4th quarter. National Bank of Canada FI now owns 107,466 shares of the company’s stock valued at $3,881,000 after acquiring an additional 41,820 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Stock Down 3.2 %

NASDAQ APA opened at $25.89 on Thursday. The business has a fifty day moving average price of $29.39 and a 200 day moving average price of $30.57. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $9.61 billion, a P/E ratio of 2.90 and a beta of 3.26. APA has a one year low of $25.85 and a one year high of $46.15.

APA (NASDAQ:APA) last issued its 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. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 earnings per share. Research analysts anticipate that APA will post 4.36 EPS for the current fiscal year.

About APA

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.