Analysts Set APA Corporation (NASDAQ:APA) Price Target at $23.94

Key Points

• APA Corporation has received a consensus recommendation of "Hold" from twenty brokerages, with three analysts suggesting a sell, fourteen a hold, and three a buy.
• The stock’s average one-year target price is $23.94, with recent price targets from analysts ranging between $18.00 and $26.00.
• APA reported a net revenue of $2.18 billion for the last quarter, beating the consensus estimate, although it experienced a 14.4% decline in quarterly revenue compared to the previous year.

Shares of APA Corporation (NASDAQ:APA - Get Free Report) have received an average recommendation of "Hold" from the twenty research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.9444.

A number of analysts recently commented on APA shares. UBS Group boosted their target price on APA from $21.00 to $23.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. upped their target price on APA from $19.00 to $20.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Cowen reaffirmed a "hold" rating on shares of APA in a report on Thursday, August 7th. Royal Bank Of Canada reduced their price objective on APA from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Finally, Wells Fargo & Company raised their price target on APA from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, August 15th.

Institutional Investors Weigh In On APA

A number of large investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in shares of APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the period. Rakuten Securities Inc. boosted its position in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after acquiring an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH bought a new stake in APA during the 4th quarter valued at approximately $42,000. CVA Family Office LLC boosted its position in shares of APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company's stock worth $34,000 after purchasing an additional 1,829 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock worth $34,000 after acquiring an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Stock Performance

Shares of NASDAQ APA traded down $0.24 during trading hours on Thursday, reaching $22.12. 4,421,653 shares of the stock were exchanged, compared to its average volume of 7,646,726. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 6.58 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. APA has a 52 week low of $13.58 and a 52 week high of $29.47. The stock's fifty day simple moving average is $19.56 and its 200 day simple moving average is $18.92.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $1.17 EPS. The company's revenue was down 14.4% on a year-over-year basis. Sell-side analysts predict that APA will post 4.03 EPS for the current year.

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.