APA (NASDAQ:APA) Price Target Cut to $34.00

APA (NASDAQ:APA) had its price objective decreased by research analysts at Truist Financial from $46.00 to $34.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 38.89% from the stock’s previous close.

A number of other research firms have also recently commented on APA. Scotiabank cut their target price on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 target price on shares of APA in a report on Tuesday, September 17th. JPMorgan Chase & Co. cut their price target on shares of APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Susquehanna decreased 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, September 4th. Finally, Wolfe Research initiated coverage on APA in a research note on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.81.

APA Stock Down 0.2 %

APA traded down $0.05 during trading on Monday, reaching $24.48. The stock had a trading volume of 849,199 shares, compared to its average volume of 6,219,469. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 2.74 and a beta of 3.24. The stock’s 50 day moving average is $27.56 and its two-hundred day moving average is $29.85. APA has a one year low of $22.72 and a one year high of $43.58.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. APA’s quarterly revenue was up 41.6% on a year-over-year basis. As a group, analysts expect that APA will post 4.04 earnings per share for the current year.

Institutional Trading of APA

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Wealthquest Corp lifted its position in shares of APA by 21.7% in the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after acquiring an additional 27,513 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after acquiring an additional 1,938,335 shares during the period. Mutual of America Capital Management LLC raised its stake in APA by 18.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock valued at $1,673,000 after purchasing an additional 7,580 shares during the period. Finally, Ellis Investment Partners LLC purchased a new position in APA in the 2nd quarter worth approximately $2,499,000. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.