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

Key Points

• Barclays has raised its price target for APA stock from $21.00 to $22.00, indicating a potential upside of 10.18% from the current price, while maintaining an "equal weight" rating.
• Several analysts have differing views on APA, with recommendations ranging from "sell" to "buy," while the consensus rating stands at "Hold" with an average target price of $23.59.
• Institutional investors recently increased their holdings significantly in APA, with 83.01% of the stock owned by these investors, showcasing strong institutional confidence in the company.

APA (NASDAQ:APA - Free Report) had its price objective lifted by Barclays from $21.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts also recently commented on the stock. Morgan Stanley lifted their target price on shares of APA from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, May 23rd. Wells Fargo & Company reduced their target price on shares of APA from $21.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Friday, July 18th. Royal Bank Of Canada reduced their target price on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Monday, July 14th. Argus raised shares of APA to a "hold" rating in a research note on Friday, May 16th. Finally, Susquehanna reduced their target price on shares of APA from $31.00 to $30.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $23.59.

APA Price Performance

Shares of NASDAQ APA traded up $0.55 during mid-day trading on Friday, reaching $20.01. The company's stock had a trading volume of 11,134,808 shares, compared to its average volume of 7,093,744. The stock has a 50-day moving average of $19.16 and a two-hundred day moving average of $19.07. The stock has a market capitalization of $7.24 billion, a P/E ratio of 6.69, a P/E/G ratio of 6.54 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.80. APA has a 1-year low of $13.58 and a 1-year high of $29.88.

APA (NASDAQ:APA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $2.03 billion. During the same period in the prior year, the business earned $1.17 earnings per share. The company's quarterly revenue was down 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that APA will post 4.03 EPS for the current fiscal year.

APA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Tuesday, July 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.0%. APA's payout ratio is 35.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after acquiring an additional 1,382 shares in the last quarter. Rakuten Securities Inc. grew its holdings in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in APA during the 4th quarter worth approximately $42,000. CVA Family Office LLC grew its holdings in APA by 6,096.7% during the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company's stock worth $34,000 after acquiring an additional 1,829 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in APA by 144.9% during 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 in the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

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.