UBS Group Increases APA (NASDAQ:APA) Price Target to $34.00

by · The Markets Daily

APA (NASDAQ:APA – Get Free Report) had its target price lifted by stock analysts at UBS Group from $30.00 to $34.00 in a report released on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 7.29% from the company’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Friday, January 23rd. BMO Capital Markets increased their price objective on APA from $30.00 to $35.00 and gave the company a “market perform” rating in a report on Tuesday. Roth Mkm raised their target price on APA from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 26th. Zacks Research upgraded APA from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price target on shares of APA in a research note on Monday, November 24th. Seven equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.00.

View Our Latest Report on APA

APA Price Performance

APA stock opened at $31.69 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $11.24 billion, a PE ratio of 7.94, a P/E/G ratio of 13.88 and a beta of 0.67. APA has a 12-month low of $13.58 and a 12-month high of $32.75. The business’s fifty day moving average price is $26.42 and its 200 day moving average price is $24.66.

APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 19.89% and a net margin of 15.55%.APA’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. On average, sell-side analysts anticipate that APA will post 4.03 EPS for the current year.

Institutional Trading of APA

Hedge funds have recently made changes to their positions in the company. DGS Capital Management LLC purchased a new position in APA during the fourth quarter worth about $244,000. Compound Planning Inc. boosted its position in APA by 45.5% during the fourth quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock worth $371,000 after purchasing an additional 4,744 shares in the last quarter. Corient Private Wealth LLC increased its holdings in APA by 212.2% during the 4th quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock valued at $10,195,000 after acquiring an additional 283,299 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of APA by 13.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after purchasing an additional 12,211 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in APA by 12.2% during the 4th quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock valued at $3,525,000 after buying an additional 15,657 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

(Get Free Report)

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.

Recommended Stories