Wells Fargo & Company Lowers APA (NASDAQ:APA) Price Target to $47.00

APA (NASDAQ:APA) had its price objective lowered by analysts at Wells Fargo & Company from $49.00 to $47.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 83.45% from the company’s current price.

A number of other research analysts have also recently issued reports on APA. Piper Sandler cut their price objective on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Truist Financial dropped their price objective on APA from $46.00 to $34.00 and set a “buy” rating for the company in a report on Monday. Evercore ISI dropped their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a report on Monday. Sanford C. Bernstein dropped their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Susquehanna decreased their target price on APA from $57.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.43.

APA Stock Performance

APA traded up $1.16 during trading on Tuesday, reaching $25.62. 7,355,675 shares of the company’s stock were exchanged, compared to its average volume of 6,267,273. APA has a fifty-two week low of $22.72 and a fifty-two week high of $43.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $27.43 and a 200 day moving average price of $29.79. The company has a market capitalization of $9.51 billion, a P/E ratio of 2.87 and a beta of 3.24.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping 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 firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The business’s revenue was up 41.6% compared to the same quarter last year. As a group, analysts predict that APA will post 4.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APA

Institutional investors have recently bought and sold shares of the company. Sunpointe LLC raised its stake in APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after acquiring an additional 362 shares during the period. GAMMA Investing LLC raised its stake in APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after acquiring an additional 380 shares during the period. Citizens Financial Group Inc. RI raised its stake in APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after acquiring an additional 429 shares during the period. Stephens Inc. AR raised its stake in APA by 0.9% in the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock valued at $1,775,000 after acquiring an additional 436 shares during the period. Finally, UMB Bank n.a. raised its stake in APA by 18.1% in the 1st quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after acquiring an additional 439 shares during the period. Institutional investors 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.