APA (NASDAQ:APA) PT Raised to $36.00 at Truist Financial

APA (NASDAQ:APA) had its price target upped by investment analysts at Truist Financial from $34.00 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 34.03% from the company’s current price.

Several other equities research analysts also recently commented on the company. Scotiabank reduced their price objective on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Citigroup reduced their price target on shares of APA from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, September 9th. Susquehanna lowered their price objective on shares of APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. The Goldman Sachs Group dropped their target price on shares of APA from $30.00 to $26.00 and set a “sell” rating on the stock in a report on Monday. Finally, Mizuho decreased their target price on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, APA has an average rating of “Hold” and a consensus target price of $34.90.

APA Stock Up 2.0 %

Shares of APA stock opened at $26.86 on Wednesday. APA has a 1 year low of $22.72 and a 1 year high of $43.58. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average of $26.70 and a 200 day moving average of $29.47. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 3.00 and a beta of 3.23.

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

Hedge Funds Weigh In On APA

Hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in shares of APA during the third quarter worth approximately $88,000. Foundation Resource Management Inc. grew its holdings in APA by 1.4% during the 3rd quarter. Foundation Resource Management Inc. now owns 151,435 shares of the company’s stock worth $3,704,000 after acquiring an additional 2,116 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of APA by 357.1% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,200 shares of the company’s stock valued at $78,000 after purchasing an additional 2,500 shares during the last quarter. Tobam raised its holdings in shares of APA by 83.8% in the 3rd quarter. Tobam now owns 3,326 shares of the company’s stock valued at $81,000 after purchasing an additional 1,516 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of APA by 16.9% during the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock worth $87,000 after purchasing an additional 513 shares during the last quarter. Institutional investors and hedge funds 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.