APA (NASDAQ:APA) Price Target Cut to $30.00 by Analysts at Barclays

APA (NASDAQ:APA) had its price objective cut by equities researchers at Barclays from $35.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 14.37% from the stock’s current price.

Several other equities research analysts have also commented on the stock. UBS Group decreased their target price on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Mizuho decreased their target price on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday. Wolfe Research started coverage on APA in a research report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, Scotiabank dropped their price target on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA presently has an average rating of “Hold” and an average price target of $35.19.

APA Stock Performance

APA stock traded up $0.47 during midday trading on Thursday, reaching $26.23. The stock had a trading volume of 1,713,286 shares, compared to its average volume of 6,268,567. The firm has a fifty day simple moving average of $27.24 and a two-hundred day simple moving average of $29.72. The stock has a market cap of $9.74 billion, a PE ratio of 2.94 and a beta of 3.24. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. APA’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts anticipate that APA will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APA. TFO Wealth Partners LLC grew its holdings in APA by 64,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,600 shares of the company’s stock worth $93,000 after purchasing an additional 2,596 shares during the last quarter. Bank of Nova Scotia raised its holdings in APA by 32.7% in the 4th quarter. Bank of Nova Scotia now owns 37,954 shares of the company’s stock valued at $1,362,000 after acquiring an additional 9,362 shares during the last quarter. KBC Group NV raised its holdings in APA by 145.1% in the 4th quarter. KBC Group NV now owns 86,611 shares of the company’s stock valued at $3,107,000 after acquiring an additional 51,280 shares during the last quarter. Peapack Gladstone Financial Corp boosted its position in shares of APA by 12.1% during the 4th quarter. Peapack Gladstone Financial Corp now owns 14,440 shares of the company’s stock worth $518,000 after purchasing an additional 1,564 shares during the period. Finally, Royal London Asset Management Ltd. boosted its position in APA by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 62,122 shares of the company’s stock valued at $2,229,000 after buying an additional 781 shares during the period. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

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.