APA (NASDAQ:APA) PT Raised to $36.00

APA (NASDAQ:APA) had its target price raised by Truist Financial from $34.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 34.03% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Mizuho dropped their price objective on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company dropped their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Sanford C. Bernstein dropped their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $41.00 price target on shares of APA in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.90.

APA Trading Up 2.0 %

Shares of APA stock opened at $26.86 on Wednesday. The company has a market capitalization of $9.97 billion, a P/E ratio of 3.00 and a beta of 3.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $26.70 and its two-hundred day moving average is $29.47. APA has a twelve month low of $22.72 and a twelve month high of $43.58.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’s revenue was up 41.6% compared to the same quarter last year. Equities analysts forecast that APA will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new stake in APA during the third quarter valued at about $88,000. Foundation Resource Management Inc. lifted its stake in shares of APA by 1.4% in the 3rd quarter. Foundation Resource Management Inc. now owns 151,435 shares of the company’s stock valued at $3,704,000 after purchasing an additional 2,116 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of APA by 357.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,200 shares of the company’s stock worth $78,000 after purchasing an additional 2,500 shares during the period. Tobam increased its position in APA by 83.8% during the 3rd quarter. Tobam now owns 3,326 shares of the company’s stock worth $81,000 after purchasing an additional 1,516 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in APA by 16.9% in the third quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock valued at $87,000 after buying an additional 513 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.