Barclays Reaffirms Equal Weight Rating for APA (NASDAQ:APA)

Barclays reiterated their equal weight rating on shares of APA (NASDAQ:APA) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $35.00 price target on the stock.

Other research analysts have also recently issued reports about the company. Evercore ISI cut APA from an outperform rating to an inline rating and decreased their price target for the stock from $52.00 to $39.00 in a research note on Friday, June 14th. Bank of America reissued an underperform rating and set a $31.00 target price on shares of APA in a research note on Friday, June 14th. Susquehanna lowered their target price on APA from $57.00 to $52.00 and set a positive rating for the company in a report on Wednesday, September 4th. Citigroup cut their price target on shares of APA from $33.00 to $32.00 and set a neutral rating on the stock in a research note on Monday. Finally, Royal Bank of Canada reissued a sector perform rating and issued a $41.00 price objective on shares of APA in a research note on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $37.62.

APA Stock Down 1.0 %

Shares of NASDAQ:APA opened at $23.61 on Wednesday. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 2.64 and a beta of 3.24. APA has a 12-month low of $22.72 and a 12-month high of $44.37. The business has a 50-day moving average price of $28.92 and a 200 day moving average price of $30.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share 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 business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. Sell-side analysts expect that APA will post 4.36 EPS for the current year.

Institutional Investors Weigh In On APA

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

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.