APA (NASDAQ:APA) Earns Hold (C) Rating from Weiss Ratings

Key Points

• APA Corporation's stock has been reissued a "hold (C)" rating by Weiss Ratings, reflecting a cautious outlook from analysts.
• BMO Capital Markets raised its price target for APA from $28.00 to $30.00, representing a positive shift among some analysts despite mixed ratings overall.
• APA's recent quarterly earnings report showed a significant beat on EPS, with a reported $0.87 compared to an estimated $0.45, though revenue was down 14.4% year-over-year.

APA (NASDAQ:APA - Get Free Report)'s stock had its "hold (c)" rating reissued by stock analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

APA has been the subject of a number of other reports. BMO Capital Markets lifted their target price on APA from $28.00 to $30.00 and gave the company a "market perform" rating in a research note on Monday. Stephens started coverage on APA in a research report on Tuesday, August 5th. They set an "equal weight" rating and a $24.00 price objective for the company. Cfra Research upgraded APA to a "hold" rating in a research report on Friday, August 8th. Roth Capital downgraded shares of APA from a "buy" rating to a "neutral" rating and set a $22.00 price target for the company. in a report on Wednesday, August 13th. Finally, Scotiabank boosted their price target on shares of APA from $22.00 to $26.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $24.00.

APA Stock Performance

APA stock traded up $0.56 during mid-day trading on Tuesday, reaching $23.38. The company's stock had a trading volume of 2,593,632 shares, compared to its average volume of 7,810,300. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 6.31 and a beta of 1.16. The business has a 50 day moving average price of $22.58 and a 200-day moving average price of $19.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. APA has a twelve month low of $13.58 and a twelve month high of $25.83.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $1.17 EPS. The company's quarterly 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 fiscal year.

Institutional Trading of APA

Institutional investors have recently made changes to their positions in the stock. Lynx Investment Advisory acquired a new stake in APA in the first quarter worth approximately $415,000. Fifth Third Bancorp lifted its holdings in shares of APA by 98.7% in the second quarter. Fifth Third Bancorp now owns 51,924 shares of the company's stock valued at $950,000 after buying an additional 25,787 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of APA by 1,576.6% in the first quarter. Bayforest Capital Ltd now owns 18,979 shares of the company's stock valued at $399,000 after buying an additional 17,847 shares during the period. WBI Investments LLC acquired a new stake in shares of APA in the first quarter valued at $1,263,000. Finally, Strs Ohio acquired a new stake in shares of APA in the first quarter valued at $14,735,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.