APA (NASDAQ:APA) PT Lowered to $38.00

APA (NASDAQ:APA) had its price objective lowered by equities research analysts at Barclays from $40.00 to $38.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 29.87% from the company’s previous close.

Several other analysts have also recently issued reports on APA. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of APA in a research report on Monday, April 8th. StockNews.com raised shares of APA from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Mizuho lowered their price target on shares of APA from $34.00 to $32.00 and set an “underperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of APA from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley reissued an “underweight” rating and set a $28.00 target price on shares of APA in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $42.05.

APA Stock Up 0.3 %

Shares of APA stock opened at $29.26 on Thursday. APA has a 1 year low of $28.90 and a 1 year high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 3.26 and a beta of 3.29. The firm’s 50-day moving average is $32.54 and its two-hundred day moving average is $34.22.

APA (NASDAQ:APA) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 50.56% and a net margin of 34.04%. APA’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 EPS. As a group, research analysts expect that APA will post 5.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APA. American National Bank raised its stake in shares of APA by 208.5% during the 1st 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. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in APA in the 3rd quarter worth approximately $34,000. Rakuten Securities Inc. acquired a new stake in shares of APA during the 4th quarter worth approximately $34,000. Quent Capital LLC increased its holdings in shares of APA by 64.0% during the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after purchasing an additional 375 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of APA in the 4th quarter valued at $39,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.