Analysts Set APA Co. (NASDAQ:APA) Target Price at $37.81

Shares of APA Co. (NASDAQ:APA) have been assigned an average rating of “Hold” from the twenty ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $37.76.

APA has been the subject of a number of research analyst reports. Evercore ISI downgraded APA from an “outperform” rating to an “inline” rating and decreased their price target for the company from $52.00 to $39.00 in a research report on Friday, June 14th. Piper Sandler decreased their price target on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Citigroup decreased their price target on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday. Scotiabank decreased their price target on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, Sanford C. Bernstein decreased their price target on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th.

APA Stock Performance

Shares of APA stock opened at $24.92 on Thursday. The company has a market cap of $9.22 billion, a PE ratio of 2.79 and a beta of 3.24. APA has a 52 week low of $24.77 and a 52 week high of $44.74. The business has a 50 day moving average price of $29.15 and a 200-day moving average price of $30.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Equities analysts anticipate that APA will post 4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

A number of large investors have recently made changes to their positions in APA. Vanguard Group Inc. boosted its stake in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after buying an additional 2,004,555 shares during the period. Summa Corp. bought a new stake in APA during the fourth quarter valued at $7,571,000. Wealthquest Corp boosted its stake in APA by 21.7% during the fourth quarter. Wealthquest Corp now owns 154,200 shares of the company’s stock valued at $5,533,000 after buying an additional 27,513 shares during the period. Dimensional Fund Advisors LP boosted its stake in APA by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock valued at $66,093,000 after buying an additional 345,192 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in APA by 10.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares during the period. 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.