APA (NASDAQ:APA) Price Target Lowered to $52.00 at Wells Fargo & Company

APA (NASDAQ:APA - Free Report) had its price target decreased by Wells Fargo & Company from $53.00 to $52.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

APA has been the topic of several other research reports. Royal Bank of Canada reiterated a sector perform rating and issued a $45.00 target price on shares of APA in a research report on Monday, April 8th. Raymond James decreased their price target on shares of APA from $44.00 to $43.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. Mizuho raised their price target on shares of APA from $34.00 to $35.00 and gave the stock an underperform rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of APA from $38.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, April 11th. Finally, Roth Mkm raised their price target on shares of APA from $37.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, APA presently has a consensus rating of Hold and an average target price of $42.10.

APA Stock Performance

APA stock traded down $0.59 during midday trading on Wednesday, hitting $30.13. 6,192,006 shares of the stock traded hands, compared to its average volume of 6,649,941. The firm has a market cap of $11.18 billion, a P/E ratio of 3.40 and a beta of 3.29. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.16. The stock's fifty day simple moving average is $32.54 and its 200-day simple moving average is $33.15. APA has a 1-year low of $28.90 and a 1-year high of $46.15.

APA (NASDAQ:APA - Get Free Report) last released its quarterly 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). APA had a net margin of 34.04% and a return on equity of 45.32%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $1.19 EPS. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts expect that APA will post 4.64 earnings per share for the current year.

Hedge Funds Weigh In On APA

Large investors have recently made changes to their positions in the stock. Harris Associates L P lifted its holdings in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company's stock worth $563,520,000 after buying an additional 2,367,570 shares in the last quarter. Vanguard Group Inc. lifted its holdings in APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company's stock worth $1,535,001,000 after buying an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company's stock worth $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in APA by 130.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,534,209 shares of the company's stock worth $63,037,000 after buying an additional 867,257 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in APA by 1,527.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 921,662 shares of the company's stock worth $37,880,000 after buying an additional 865,026 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

About APA

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.