JPMorgan Chase & Co. Boosts APA (NASDAQ:APA) Price Target to $25.00

Key Points

• JPMorgan Chase & Co. has increased its price target for APA from $23.00 to $25.00, maintaining a "neutral" rating on the stock.
• AAPA's current price suggests a potential upside of 13.95% from its market price, which was $21.94 at the end of trading on Friday.
• Institutional investors own 83.01% of APA's stock, indicating strong backing from large financial entities.

APA (NASDAQ:APA - Get Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $23.00 to $25.00 in a report issued on Friday,MarketScreener reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.95% from the company's current price.

A number of other equities analysts have also recently commented on the stock. Royal Bank Of Canada cut their target price on shares of APA from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Monday, July 14th. Morgan Stanley raised their price objective on shares of APA from $22.00 to $23.00 and gave the stock an "underweight" rating in a research report on Monday, August 18th. Raymond James Financial restated an "outperform" rating and issued a $28.00 price objective (up from $26.00) on shares of APA in a research note on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of APA in a research note on Saturday, September 27th. Finally, Cfra Research raised APA to a "hold" rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, APA presently has a consensus rating of "Hold" and a consensus price target of $23.76.

APA Stock Down 7.3%

APA opened at $21.94 on Friday. APA has a one year low of $13.58 and a one year high of $27.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $7.85 billion, a P/E ratio of 7.34, a price-to-earnings-growth ratio of 6.80 and a beta of 1.16. The business's 50-day simple moving average is $22.49 and its 200-day simple moving average is $19.53.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The firm's quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. Analysts anticipate that APA will post 4.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its holdings in APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after acquiring an additional 1,382 shares during the period. Rakuten Securities Inc. increased its holdings in shares of APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in shares of APA by 144.9% in the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock valued at $34,000 after purchasing an additional 1,104 shares during the period. CVA Family Office LLC lifted its stake in shares of APA by 6,096.7% in the second quarter. CVA Family Office LLC now owns 1,859 shares of the company's stock valued at $34,000 after purchasing an additional 1,829 shares during the period. Finally, MAI Capital Management boosted its holdings in APA by 76.5% during the second quarter. MAI Capital Management now owns 2,134 shares of the company's stock worth $39,000 after buying an additional 925 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.

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