APA (NASDAQ:APA) Price Target Cut to $34.00

APA (NASDAQ:APA) had its target price dropped by investment analysts at Truist Financial from $46.00 to $34.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 32.50% from the company’s current price.

Several other analysts have also commented on the company. Scotiabank cut their price objective on APA from $37.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Piper Sandler cut their price target on APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. UBS Group lowered their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI reissued an “in-line” rating and issued a $39.00 price objective on shares of APA in a report on Thursday, September 12th. Finally, Sanford C. Bernstein decreased their price target on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, APA currently has a consensus rating of “Hold” and an average price target of $35.43.

APA Trading Up 4.9 %

NASDAQ:APA opened at $25.66 on Monday. The stock has a market cap of $9.52 billion, a price-to-earnings ratio of 2.87 and a beta of 3.24. 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 company’s 50 day moving average price is $27.33 and its 200-day moving average price is $29.75. APA has a 52 week low of $22.72 and a 52 week high of $43.58.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities research analysts forecast that APA will post 4.04 earnings per share for the current fiscal year.

Institutional Trading of APA

Several hedge funds have recently modified their holdings of APA. Vanguard Group Inc. raised its position 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 purchasing an additional 2,004,555 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,938,335 shares in the last quarter. Harris Associates L P boosted its holdings in shares of APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after purchasing an additional 2,367,570 shares during the period. Dimensional Fund Advisors LP grew its stake in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in APA by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after purchasing an additional 455,312 shares during the period. 83.01% of the stock is owned by hedge funds and other 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.