APA’s (APA) Equal Weight Rating Reaffirmed at Barclays

Barclays restated their equal weight rating on shares of APA (NASDAQ:APA) in a research note published on Wednesday morning, Benzinga reports. They currently have a $35.00 target price on the stock.

APA has been the topic of several other research reports. Evercore ISI lowered shares of APA from an outperform rating to an inline rating and dropped their price objective for the company from $52.00 to $39.00 in a research note on Friday, June 14th. Sanford C. Bernstein cut 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. Piper Sandler lowered their target price on APA from $34.00 to $29.00 and set a neutral rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company dropped their target price on APA from $50.00 to $49.00 and set an overweight rating on the stock in a research report on Wednesday, August 14th. Finally, Bank of America reiterated an underperform rating and set a $31.00 price target on shares of APA in a report on Friday, June 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $37.00.

APA Stock Performance

Shares of APA stock opened at $23.94 on Wednesday. APA has a 12 month low of $22.72 and a 12 month 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 stock has a market cap of $8.86 billion, a PE ratio of 2.68 and a beta of 3.24. The business has a fifty day simple moving average of $28.71 and a 200-day simple moving average of $30.27.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts anticipate that APA will post 4.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. American National Bank raised its position in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after buying an additional 490 shares during the last quarter. Covestor Ltd lifted its position in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Principal Securities Inc. bought a new stake in shares of APA in the 4th quarter worth approximately $39,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of APA during the second quarter valued at approximately $42,000. 83.01% of the stock is owned by 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.