Barclays Lowers APA (NASDAQ:APA) Price Target to $54.00

APA (NASDAQ:APAGet Rating) had its price target cut by analysts at Barclays from $56.00 to $54.00 in a research note issued on Wednesday, The Fly reports. Barclays‘s target price suggests a potential upside of 23.80% from the stock’s current price.

Other equities analysts also recently issued reports about the company. KeyCorp raised their price target on APA from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, April 4th. MKM Partners upped their price objective on APA from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Truist Financial boosted their target price on APA from $55.00 to $65.00 in a research report on Thursday, April 21st. Morgan Stanley boosted their target price on APA from $41.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Finally, Piper Sandler cut their target price on APA to $54.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA has an average rating of “Buy” and an average target price of $46.76.

Shares of NASDAQ APA opened at $43.62 on Wednesday. APA has a one year low of $15.55 and a one year high of $45.27. The company has a debt-to-equity ratio of 6.77, a current ratio of 1.23 and a quick ratio of 1.12. The firm’s 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $34.48. The stock has a market capitalization of $14.75 billion, a P/E ratio of 6.23, a PEG ratio of 0.15 and a beta of 4.13.

APA (NASDAQ:APAGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.16. APA had a net margin of 30.21% and a return on equity of 11,632.79%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the business earned $0.91 earnings per share. The business’s revenue was up 42.7% on a year-over-year basis. As a group, equities analysts expect that APA will post 10.17 earnings per share for the current fiscal year.

In related news, Director Chansoo Joung acquired 40,000 shares of APA stock in a transaction that occurred on Friday, February 25th. The shares were purchased at an average price of $32.92 per share, for a total transaction of $1,316,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen J. Riney acquired 6,300 shares of APA stock in a transaction that occurred on Thursday, February 24th. The shares were bought at an average price of $31.47 per share, for a total transaction of $198,261.00. The disclosure for this purchase can be found here. 0.88% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in APA during the 4th quarter worth about $30,000. First Mercantile Trust Co. purchased a new stake in APA during the 3rd quarter worth about $31,000. Covestor Ltd lifted its holdings in APA by 117.8% during the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after buying an additional 437 shares during the last quarter. Ahrens Investment Partners LLC purchased a new stake in APA during the 4th quarter worth about $35,000. Finally, Outfitter Financial LLC purchased a new stake in APA during the 4th quarter worth about $48,000. 84.08% of the stock is owned by institutional investors and hedge funds.

About APA (Get Rating)

APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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