APA (NASDAQ:APA - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Raymond James in a note issued to investors on Friday,Benzinga reports. They presently have a $25.00 price target on the stock, up from their prior price target of $23.00. Raymond James' price objective would indicate a potential upside of 45.77% from the company's previous close.
APA has been the subject of several other reports. Royal Bank of Canada decreased their price objective on shares of APA from $27.00 to $24.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Mizuho decreased their price objective on shares of APA from $20.00 to $19.00 and set an "underperform" rating for the company in a report on Tuesday, May 13th. Citigroup boosted their price objective on shares of APA from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Argus raised shares of APA to a "hold" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of APA from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $25.21.
Read Our Latest Research Report on APA
APA Stock Down 1.1%
APA stock traded down $0.19 during trading hours on Friday, hitting $17.15. The stock had a trading volume of 7,729,569 shares, compared to its average volume of 6,975,980. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $6.20 billion, a P/E ratio of 2.42 and a beta of 1.18. APA has a 12-month low of $13.58 and a 12-month high of $33.41. The stock's 50-day moving average price is $16.88 and its 200-day moving average price is $20.30.
APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The firm's quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts anticipate that APA will post 4.03 EPS for the current fiscal year.
Hedge Funds Weigh In On APA
A number of hedge funds and other institutional investors have recently modified their holdings of APA. Janney Montgomery Scott LLC boosted its position in shares of APA by 22.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,071 shares of the company's stock worth $1,503,000 after acquiring an additional 12,077 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in APA by 58.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,713 shares of the company's stock valued at $132,000 after purchasing an additional 2,098 shares during the last quarter. Fifth Third Bancorp lifted its position in APA by 35.1% during the fourth quarter. Fifth Third Bancorp now owns 22,831 shares of the company's stock valued at $527,000 after purchasing an additional 5,928 shares during the last quarter. Blue Trust Inc. lifted its position in APA by 95.1% during the fourth quarter. Blue Trust Inc. now owns 5,035 shares of the company's stock valued at $123,000 after purchasing an additional 2,454 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in APA by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 74,138 shares of the company's stock valued at $1,712,000 after purchasing an additional 13,487 shares during the last quarter. Institutional investors own 83.01% of the company's stock.
APA Company Profile
(
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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.
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