Citigroup Issues Positive Forecast for APA (NASDAQ:APA) Stock Price
by Kim Johansen · The Markets DailyAPA (NASDAQ:APA – Get Free Report) had its price target boosted by analysts at Citigroup from $25.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 3.32% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. BMO Capital Markets boosted their price target on APA from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Tuesday, March 3rd. UBS Group upped their price target on shares of APA from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Truist Financial assumed coverage on shares of APA in a report on Tuesday, March 24th. They set a “hold” rating and a $38.00 price objective on the stock. Benchmark boosted their target price on APA from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, TD Cowen upgraded shares of APA to a “hold” rating in a report on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.58.
Check Out Our Latest Research Report on APA
APA Price Performance
APA traded down $0.84 during trading on Monday, reaching $43.56. The company’s stock had a trading volume of 7,597,822 shares, compared to its average volume of 7,951,586. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 10.93 and a beta of 0.67. The firm has a fifty day simple moving average of $30.70 and a two-hundred day simple moving average of $26.54. APA has a 1 year low of $13.58 and a 1 year high of $45.66. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61.
APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.62 by $0.29. The firm 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%.The business’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 earnings per share. As a group, analysts anticipate that APA will post 4.03 EPS for the current year.
Insider Buying and Selling at APA
In related news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the sale, the director directly owned 6,634 shares in the company, valued at $240,349.82. This trade represents a 77.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.
Institutional Trading of APA
A number of hedge funds and other institutional investors have recently modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in APA by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after purchasing an additional 2,070 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in APA by 49.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the period. Focus Partners Wealth raised its position in shares of APA by 10.6% in the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after purchasing an additional 4,297 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of APA by 8.2% in the second quarter. Cetera Investment Advisers now owns 71,493 shares of the company’s stock worth $1,308,000 after buying an additional 5,439 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.
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.