APA (NASDAQ:APA) Earns Neutral Rating from Piper Sandler

Key Points

• Piper Sandler raised its price target for APA stock from $21.00 to $22.00, suggesting a potential upside of 7.98%, while maintaining a "neutral" rating.
• APA's latest earnings report showed an EPS of $0.87, exceeding estimates significantly, with revenue of $2.18 billion, though down 14.4% year-over-year.
• Institutional investors own 83.01% of APA's stock, reflecting strong interest from large financial entities in the company.

APA (NASDAQ:APA - Get Free Report)'s stock had its "neutral" rating reaffirmed by research analysts at Piper Sandler in a note issued to investors on Thursday, MarketBeat reports. They presently have a $22.00 price target on the stock, up from their previous price target of $21.00. Piper Sandler's price target suggests a potential upside of 7.42% from the stock's current price.

Several other research analysts have also recently issued reports on APA. JPMorgan Chase & Co. increased their price objective on APA from $19.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Susquehanna dropped their price target on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. UBS Group restated a "neutral" rating and issued a $19.00 price target (up previously from $18.00) on shares of APA in a research report on Monday, July 14th. Scotiabank reiterated a "sector perform" rating and set a $22.00 price objective (up previously from $14.00) on shares of APA in a research report on Friday, July 11th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $26.00 price objective (up previously from $25.00) on shares of APA in a research report on Tuesday, July 22nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $23.61.

APA Stock Down 0.0%

Shares of APA stock traded down $0.01 during trading hours on Thursday, reaching $20.48. 7,108,495 shares of the stock were exchanged, compared to its average volume of 7,485,359. The firm has a market capitalization of $7.33 billion, a P/E ratio of 6.85, a P/E/G ratio of 6.23 and a beta of 1.23. APA has a 12-month low of $13.58 and a 12-month high of $29.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The business's fifty day moving average is $19.40 and its two-hundred day moving average is $19.00.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APA. Golden State Wealth Management LLC grew its stake in APA by 2,709.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after buying an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted its position in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after acquiring an additional 1,288 shares during the period. TD Private Client Wealth LLC boosted its position in APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company's stock worth $34,000 after acquiring an additional 1,104 shares during the period. CVA Family Office LLC boosted its position in APA by 6,096.7% during the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company's stock worth $34,000 after acquiring an additional 1,829 shares during the period. Finally, MAI Capital Management boosted its position in APA by 76.5% during the 2nd quarter. MAI Capital Management now owns 2,134 shares of the company's stock worth $39,000 after acquiring an additional 925 shares during the period. 83.01% of the stock is currently owned by 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.