APA (NASDAQ:APA) PT Lowered to $30.00

APA (NASDAQ:APA) had its price objective decreased by equities research analysts at Barclays from $35.00 to $30.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 11.57% from the stock’s previous close.

A number of other brokerages have also commented on APA. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research report on Tuesday, September 17th. Bank of America restated an “underperform” rating and set a $31.00 target price on shares of APA in a report on Friday, June 14th. Wells Fargo & Company reduced their target price on APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on APA from $36.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Finally, Wolfe Research started coverage on APA in a report on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price on the stock. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.19.

APA Price Performance

Shares of APA stock opened at $26.89 on Thursday. The stock has a 50-day moving average price of $27.14 and a 200 day moving average price of $29.70. 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 firm has a market cap of $9.98 billion, a price-to-earnings ratio of 3.01 and a beta of 3.24. APA has a 12 month low of $22.72 and a 12 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, 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 company’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. Research analysts expect that APA will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. American National Bank increased its position in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the last quarter. Covestor Ltd increased its position in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased 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 acquiring an additional 1,079 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of APA during the 2nd quarter worth approximately $42,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.