Susquehanna Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

Key Points

• Susquehanna raised APA’s price target from $47 to $58 and maintained a positive rating, implying approximately 16.6% upside from the stock’s current price.
• Analyst sentiment remains mixed: APA has an overall “Hold” consensus rating and an average price target of $44.76, despite several recent target increases.
• APA recently authorized a 40 million-share repurchase program; the stock opened at $49.76 and has risen near its 52-week high of $49.85.

APA (NASDAQ:APA - Get Free Report) had its price objective upped by research analysts at Susquehanna from $47.00 to $58.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's price target would suggest a potential upside of 16.56% from the company's current price.

APA has been the subject of several other research reports. Royal Bank Of Canada boosted their target price on APA from $47.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 15th. Morgan Stanley raised their price target on shares of APA from $41.00 to $43.00 and gave the company an "underweight" rating in a research note on Thursday, October 15th. Mizuho raised their price target on shares of APA from $36.00 to $44.00 and gave the company an "underperform" rating in a research note on Thursday. KeyCorp set a $46.00 price target on shares of APA in a report on Wednesday, August 12th. Finally, Barclays decreased their price target on shares of APA from $41.00 to $40.00 and set an "equal weight" rating on the stock in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $44.76.

APA Price Performance

APA stock opened at $49.76 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95. APA has a 52 week low of $21.63 and a 52 week high of $49.85. The stock has a market capitalization of $17.43 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.82 and a beta of 0.42. The stock has a fifty day moving average of $43.89 and a 200-day moving average of $39.26.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the business earned $0.87 earnings per share. On average, sell-side analysts expect that APA will post 6.00 earnings per share for the current fiscal year.

APA declared that its Board of Directors has initiated a share repurchase program on Wednesday, September 16th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Share repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On APA

Several large investors have recently bought and sold shares of APA. Parkside Financial Bank & Trust raised its stake in APA by 9.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,206 shares of the company's stock valued at $104,000 after buying an additional 285 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in APA by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock worth $52,000 after acquiring an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of APA by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after acquiring an additional 375 shares during the last quarter. Waverly Advisors LLC grew its stake in shares of APA by 4.3% in the second quarter. Waverly Advisors LLC now owns 9,849 shares of the company's stock worth $321,000 after acquiring an additional 405 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of APA by 37.9% in the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock worth $48,000 after acquiring an additional 409 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

About APA

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company's activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA's principal producing areas include the Permian Basin in the United States and Egypt's Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.

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