APA (NASDAQ:APA) Price Target Raised to $36.00
by Teresa Graham · The Cerbat GemAPA (NASDAQ:APA – Get Free Report) had its target price boosted by analysts at Jefferies Financial Group from $26.00 to $36.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential downside of 8.48% from the stock’s previous close.
Several other research firms have also recently weighed in on APA. Morgan Stanley lifted their price objective on shares of APA from $22.00 to $43.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of APA from $29.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, March 20th. Mizuho boosted their price target on shares of APA from $24.00 to $29.00 and gave the company an “underperform” rating in a report on Tuesday, March 17th. Raymond James Financial boosted their price target on shares of APA from $31.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Finally, Sanford C. Bernstein boosted their price target on shares of APA from $25.00 to $37.00 and gave the company a “market perform” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.08.
View Our Latest Analysis on APA
APA Price Performance
NASDAQ APA opened at $39.34 on Monday. The stock has a market capitalization of $13.90 billion, a P/E ratio of 9.92 and a beta of 0.49. APA has a 1 year low of $14.81 and a 1 year high of $45.66. The business’s fifty day moving average is $33.80 and its two-hundred day moving average is $27.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.82.
APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the company posted $0.79 EPS. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. On average, research analysts forecast that APA will post 4.03 earnings per share for the current fiscal year.
Insider Transactions at APA
In related news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.
Institutional Investors Weigh In On APA
A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in APA by 869.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after acquiring an additional 174,369 shares during the period. United Capital Management of KS Inc. acquired a new position in shares of APA during the third quarter valued at about $1,214,000. Jackson Creek Investment Advisors LLC acquired a new position in shares of APA during the third quarter valued at about $2,337,000. AE Wealth Management LLC raised its position in shares of APA by 2,049.4% during the third quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock valued at $9,797,000 after buying an additional 384,738 shares during the last quarter. Finally, D.A. Davidson & CO. acquired a new position in shares of APA during the third quarter valued at about $1,828,000. 83.01% of the stock is currently owned by institutional investors.
About APA
APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.
In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.