StockNews.com Downgrades APA (NASDAQ:APA) to Hold

APA (NASDAQ:APA) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also recently issued reports on the company. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 target price (down previously from $43.00) on shares of APA in a research report on Tuesday, January 16th. The Goldman Sachs Group dropped their price objective on APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research report on Tuesday, March 26th. Roth Mkm boosted their target price on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Morgan Stanley restated an “underweight” rating and issued a $28.00 price target on shares of APA in a report on Monday, April 15th. Finally, Barclays reduced their price objective on shares of APA from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.05.

APA Stock Performance

APA stock opened at $29.26 on Friday. APA has a twelve month low of $28.90 and a twelve month high of $46.15. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 3.27 and a beta of 3.29. The business’s fifty day simple moving average is $32.52 and its two-hundred day simple moving average is $34.07. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

APA (NASDAQ:APA) last issued its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $1.19 earnings per share. APA’s revenue was down 2.8% on a year-over-year basis. Analysts predict that APA will post 5.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APA. American National Bank boosted its holdings 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. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in APA in the 3rd quarter valued at $34,000. Quent Capital LLC grew its holdings in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after buying an additional 375 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of APA in the 4th quarter worth $34,000. Finally, Principal Securities Inc. purchased a new position in shares of APA during the 4th quarter worth $39,000. 83.01% of the stock is 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.