APA (NASDAQ:APA) PT Raised to $34.00 at Mizuho

APA (NASDAQ:APA - Get Free Report) had its price objective hoisted by equities researchers at Mizuho from $32.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Mizuho's price objective indicates a potential upside of 12.58% from the company's current price.

Several other research firms have also issued reports on APA. The Goldman Sachs Group lowered their price objective on APA from $35.00 to $31.00 and set a "sell" rating for the company in a research note on Tuesday, March 26th. Roth Mkm boosted their target price on APA from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $45.00 price target on shares of APA in a report on Monday, April 8th. StockNews.com cut shares of APA from a "buy" rating to a "hold" rating in a report on Friday. Finally, Piper Sandler lifted their price objective on shares of APA from $33.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.30.

APA Price Performance

NASDAQ:APA traded down $0.18 during trading hours on Monday, hitting $30.20. 3,968,743 shares of the stock traded hands, compared to its average volume of 6,792,200. The company has a market cap of $11.21 billion, a price-to-earnings ratio of 3.38 and a beta of 3.29. APA has a 1 year low of $28.90 and a 1 year high of $46.15. The stock has a 50 day moving average price of $32.57 and a 200 day moving average price of $33.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). APA had a return on equity of 45.32% and a net margin of 34.04%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the company earned $1.19 EPS. The business's revenue was down 2.8% on a year-over-year basis. Sell-side analysts forecast that APA will post 4.91 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

Several institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of APA by 16.2% during the 3rd 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 in the last quarter. Mackenzie Financial Corp raised its position in shares of APA by 1.7% during the 3rd quarter. Mackenzie Financial Corp now owns 43,193 shares of the company's stock worth $1,713,000 after purchasing an additional 725 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in APA during the 3rd quarter worth approximately $254,000. Fifth Third Bancorp lifted its position in shares of APA by 3.2% in the third quarter. Fifth Third Bancorp now owns 13,309 shares of the company's stock valued at $547,000 after acquiring an additional 414 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of APA by 66.6% in the third quarter. Teacher Retirement System of Texas now owns 80,254 shares of the company's stock worth $3,298,000 after acquiring an additional 32,085 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.