APA's (APA) Outperform Rating Reaffirmed at Raymond James Financial

APA (NASDAQ:APA - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Raymond James Financial in a report issued on Tuesday,Benzinga reports. They currently have a $26.00 target price on the stock, up from their prior target price of $25.00. Raymond James Financial's target price would indicate a potential upside of 37.75% from the stock's current price.

A number of other equities analysts also recently issued reports on APA. UBS Group restated a "neutral" rating and issued a $19.00 price target (up from $18.00) on shares of APA in a research note on Monday, July 14th. Scotiabank reissued a "sector perform" rating and set a $22.00 price objective (up from $14.00) on shares of APA in a research note on Friday, July 11th. Mizuho cut their target price on APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 13th. Citigroup upped their target price on APA from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Finally, Piper Sandler increased their price objective on APA from $19.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $23.50.

APA Stock Up 2.9%

Shares of NASDAQ APA traded up $0.53 during midday trading on Tuesday, hitting $18.88. 3,008,688 shares of the stock traded hands, compared to its average volume of 7,249,542. The company has a market cap of $6.83 billion, a PE ratio of 6.78, a P/E/G ratio of 6.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.89 and a current ratio of 0.89. APA has a one year low of $13.58 and a one year high of $33.41. The business has a 50 day moving average price of $18.65 and a two-hundred day moving average price of $19.57.

APA (NASDAQ:APA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.23. APA had a return on equity of 23.22% and a net margin of 9.75%. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business's revenue was up 35.1% on a year-over-year basis. On average, equities analysts predict that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Hedge funds have recently made changes to their positions in the stock. OLD National Bancorp IN increased its stake in APA by 23.6% during the 2nd quarter. OLD National Bancorp IN now owns 373,843 shares of the company's stock valued at $6,838,000 after purchasing an additional 71,312 shares in the last quarter. Berger Financial Group Inc raised its position in shares of APA by 4.8% in the second quarter. Berger Financial Group Inc now owns 252,186 shares of the company's stock valued at $4,612,000 after purchasing an additional 11,460 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of APA by 8.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 376,233 shares of the company's stock worth $6,881,000 after buying an additional 28,547 shares in the last quarter. Lynx Investment Advisory increased its position in shares of APA by 5.1% in the second quarter. Lynx Investment Advisory now owns 20,758 shares of the company's stock worth $380,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its position in APA by 19.8% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 34,000 shares of the company's stock valued at $622,000 after acquiring an additional 5,630 shares during the last quarter. 83.01% of the stock is currently 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.

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