Roth Capital Forecasts Strong Price Appreciation for APA (NASDAQ:APA) Stock

Key Points

• Roth Capital has raised its price target for APA stock from $22.00 to $23.00, maintaining a "neutral" rating, indicating a potential upside of 0.39% from the current price.
• Several analysts have upgraded their ratings on APA, with Raymond James Financial setting a new target price of $28.00, reflecting growing confidence in the stock.
• APA's recent quarterly earnings report showed an EPS of $0.87, beating expectations, despite a year-over-year revenue decline of 14.4%.

APA (NASDAQ:APA - Get Free Report) had its price objective lifted by equities research analysts at Roth Capital from $22.00 to $23.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has a "neutral" rating on the stock. Roth Capital's target price points to a potential upside of 0.39% from the stock's current price.

Several other equities research analysts also recently commented on the company. The Goldman Sachs Group raised APA from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. Cfra Research raised shares of APA to a "hold" rating in a research note on Friday, August 8th. Raymond James Financial reiterated an "outperform" rating and issued a $28.00 target price (up from $26.00) on shares of APA in a report on Wednesday, September 10th. Scotiabank lifted their target price on shares of APA from $22.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company upped their price target on shares of APA from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, APA presently has a consensus rating of "Hold" and an average price target of $24.05.

APA Trading Up 0.4%

Shares of APA stock opened at $22.91 on Wednesday. APA has a 1 year low of $13.58 and a 1 year high of $25.83. The firm has a market capitalization of $8.20 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 6.56 and a beta of 1.16. The stock has a fifty day moving average of $22.66 and a two-hundred day moving average of $19.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

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

Institutional Investors Weigh In On APA

A number of large investors have recently added to or reduced their stakes in APA. Dimensional Fund Advisors LP increased its position in APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company's stock worth $190,876,000 after buying an additional 2,894,543 shares during the period. AQR Capital Management LLC grew its stake in shares of APA by 157.1% in the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company's stock worth $55,970,000 after acquiring an additional 1,869,891 shares during the last quarter. Nuveen LLC acquired a new stake in shares of APA in the first quarter worth $22,533,000. Charles Schwab Investment Management Inc. increased its position in APA by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company's stock worth $292,871,000 after acquiring an additional 1,046,893 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in APA by 2.9% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company's stock valued at $765,964,000 after purchasing an additional 1,029,961 shares during the last quarter. Institutional investors 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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