Susquehanna Increases APA (NASDAQ:APA) Price Target to $47.00

Key Points

• Susquehanna raised APA’s price target to $47 from $45 and maintained a “positive” rating, implying approximately 14.6% upside from the reported current price.
• Analyst sentiment remains mixed: APA has an overall “Hold” rating, with eight Buy, 17 Hold, and four Sell recommendations; the average price target is $40.50.
• APA’s latest quarterly results slightly missed expectations, reporting $1.89 in EPS versus $1.90 expected and revenue of $2.37 billion versus $2.46 billion projected.

APA (NASDAQ:APA - Get Free Report) had its price target hoisted by Susquehanna from $45.00 to $47.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's target price would indicate a potential upside of 14.58% from the company's current price.

Other research analysts have also issued reports about the company. Scotiabank upped their price objective on APA from $26.00 to $36.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Sanford C. Bernstein lifted their target price on APA from $37.00 to $40.00 and gave the stock a "market perform" rating in a report on Wednesday, May 20th. Stephens boosted their target price on shares of APA from $43.00 to $47.00 in a research report on Wednesday, June 10th. Citigroup reaffirmed a "neutral" rating on shares of APA in a research report on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of APA from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, June 23rd. Eight investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.50.

APA Stock Up 9.0%

APA stock opened at $41.02 on Tuesday. The stock has a market cap of $14.50 billion, a P/E ratio of 8.67 and a beta of 0.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. APA has a twelve month low of $19.77 and a twelve month high of $45.66. The company's 50-day moving average price is $35.19 and its two-hundred day moving average price is $34.86.

APA (NASDAQ:APA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%.During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, analysts expect that APA will post 4.91 EPS for the current year.

Insider Buying and Selling

In other APA news, VP Mark D. Maddox sold 9,800 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the sale, the vice president owned 66,810 shares of the company's stock, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Hedge Funds Weigh In On APA

Several institutional investors and hedge funds have recently added to or reduced their stakes in APA. Hollencrest Capital Management lifted its holdings in shares of APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company's stock worth $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in APA during the 1st quarter worth about $28,000. MidFirst Bank acquired a new stake in shares of APA in the second quarter valued at about $33,000. Global Assets Advisory LLC acquired a new position in shares of APA in the first quarter worth approximately $44,000. Finally, Gables Capital Management Inc. bought a new position in APA during the 2nd quarter worth approximately $36,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

About APA

APA Corporation NASDAQ: APA is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA's largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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