APA (NASDAQ:APA) Price Target Increased to $57.00 by Analysts at Susquehanna

APA (NASDAQ:APA - Get Free Report) had its price objective boosted by equities researchers at Susquehanna from $54.00 to $57.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price objective would suggest a potential upside of 88.37% from the stock's previous close.

Several other equities research analysts have also recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of APA from $35.00 to $31.00 and set a "sell" rating for the company in a research report on Tuesday, March 26th. Scotiabank reissued a "sector perform" rating and issued a $37.00 price target (down previously from $43.00) on shares of APA in a research note on Tuesday, January 16th. Morgan Stanley reaffirmed an "underweight" rating and set a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Truist Financial dropped their price objective on APA from $59.00 to $53.00 and set a "buy" rating for the company in a report on Friday, April 5th. Finally, Piper Sandler raised their target price on APA from $33.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, APA has an average rating of "Hold" and an average target price of $42.20.

APA Price Performance

NASDAQ:APA traded up $0.34 during mid-day trading on Tuesday, hitting $30.26. The company's stock had a trading volume of 5,696,656 shares, compared to its average volume of 6,888,921. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.42. The stock has a fifty day moving average of $32.53 and a 200-day moving average of $33.91. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of 3.37 and a beta of 3.29. APA has a fifty-two week low of $28.90 and a fifty-two week high of $46.15.

APA (NASDAQ:APA - Get Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. As a group, equities analysts forecast that APA will post 5.03 EPS for the current fiscal year.

Institutional Trading of APA

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC increased its stake in shares of APA by 16.2% in the third quarter. Commonwealth Equity Services LLC now owns 64,406 shares of the company's stock valued at $2,647,000 after buying an additional 9,001 shares during the period. Brown Advisory Inc. acquired a new position in APA in the 3rd quarter valued at approximately $222,000. Mackenzie Financial Corp raised its stake in shares of APA by 1.7% during the third quarter. Mackenzie Financial Corp now owns 43,193 shares of the company's stock valued at $1,713,000 after acquiring an additional 725 shares during the last quarter. Advisor Partners II LLC lifted its holdings in shares of APA by 4.3% during the third quarter. Advisor Partners II LLC now owns 56,415 shares of the company's stock worth $2,319,000 after purchasing an additional 2,341 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of APA by 13.9% in the third quarter. TD Asset Management Inc now owns 853,257 shares of the company's stock worth $35,069,000 after purchasing an additional 103,846 shares during 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.