APA Corporation (NASDAQ:APA) Receives Consensus Rating of "Hold" from Analysts

Key Points

• APA Corporation has a consensus “Hold” rating from 30 analysts: 16 recommend holding, 10 recommend buying, and four recommend selling. The average 12-month price target is $41.50.
• Recent analyst views were mixed, with Citigroup raising its target to $44 while maintaining a neutral rating, Mizuho assigning a strong sell, and Wall Street Zen upgrading the stock to buy.
• APA reported quarterly EPS of $1.89, slightly below the $1.90 consensus estimate, while revenue of $2.37 billion also trailed forecasts of $2.46 billion. Institutional investors own approximately 83.01% of the company.

Shares of APA Corporation (NASDAQ:APA - Get Free Report) have been assigned a consensus recommendation of "Hold" from the thirty analysts that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $41.50.

A number of analysts have recently issued reports on APA shares. Citigroup increased their price target on shares of APA from $38.00 to $44.00 and gave the stock a "neutral" rating in a research report on Thursday, August 20th. Mizuho upgraded shares of APA to a "strong sell" rating in a research note on Friday, July 31st. Wall Street Zen upgraded shares of APA from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Sanford C. Bernstein lifted their target price on shares of APA from $37.00 to $40.00 and gave the company a "market perform" rating in a research note on Wednesday, May 20th. Finally, KeyCorp set a $46.00 price target on shares of APA in a report on Wednesday, August 12th.

APA Price Performance

NASDAQ:APA opened at $42.54 on Monday. The business's fifty day moving average price is $36.80 and its 200 day moving average price is $36.39. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.77 and a beta of 0.35. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.47. APA has a 1-year low of $21.57 and a 1-year high of $45.66.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, sell-side analysts forecast that APA will post 5.54 earnings per share for the current fiscal year.

Institutional Trading of APA

Institutional investors have recently bought and sold shares of the company. Altshuler Shaham Ltd raised its holdings in APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company's stock valued at $52,000 after acquiring an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of APA by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock valued at $689,000 after purchasing an additional 396 shares during the period. Fortitude Family Office LLC increased its position in shares of APA by 37.9% during the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company's stock valued at $48,000 after purchasing an additional 409 shares during the period. Finally, IRON Financial LLC raised its stake in shares of APA by 7.2% in the second quarter. IRON Financial LLC now owns 7,279 shares of the company's stock valued at $237,000 after purchasing an additional 490 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company's stock.

APA Company Profile

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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