The Goldman Sachs Group Forecasts Strong Price Appreciation for APA (NASDAQ:APA) Stock

Key Points

• Goldman Sachs raised APA's price target to $30 (from $29) but kept a "sell" rating, with that target implying roughly a 23.3% downside from the current share price.
• Consensus among analysts is a Hold with an average price target of $30.84 (7 Buys, 18 Holds, 4 Sells), signaling broad caution versus APA's ~ $39 share level.
• APA beat the quarter's estimates (EPS $0.91 vs $0.62; revenue $1.99B vs $1.89B) but revenue declined 26.6% year‑over‑year, and a director recently sold a large block of shares.

APA (NASDAQ:APA - Get Free Report) had its target price upped by analysts at The Goldman Sachs Group from $29.00 to $30.00 in a report released on Monday,MarketScreener reports. The brokerage currently has a "sell" rating on the stock. The Goldman Sachs Group's price target points to a potential downside of 23.29% from the stock's current price.

A number of other research analysts also recently issued reports on APA. UBS Group boosted their price target on APA from $30.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. Royal Bank Of Canada increased their price objective on APA from $26.00 to $29.00 and gave the stock a "sector perform" rating in a report on Thursday, March 5th. Wolfe Research lifted their price objective on APA from $39.00 to $45.00 in a research report on Monday, March 9th. Stephens boosted their target price on APA from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 17th. Finally, Roth Mkm upped their target price on APA from $23.00 to $27.00 and gave the company a "neutral" rating in a report on Thursday, February 26th. Seven investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.84.

APA Trading Up 2.8%

Shares of APA opened at $39.11 on Monday. The stock has a market capitalization of $13.82 billion, a P/E ratio of 9.80 and a beta of 0.67. APA has a twelve month low of $13.58 and a twelve month high of $39.52. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $29.12 and a two-hundred day simple moving average of $25.87.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.29. The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. The company's revenue for the quarter was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 earnings per share. On average, research analysts anticipate that APA will post 4.03 EPS for the current year.

Insider Buying and Selling

In other news, Director Matthew Regis Bob sold 23,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the sale, the director directly owned 6,634 shares of the company's stock, valued at approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On APA

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its stake in APA by 0.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company's stock worth $2,609,000 after purchasing an additional 375 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company's stock worth $689,000 after buying an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC raised its holdings in APA by 3.2% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company's stock valued at $358,000 after acquiring an additional 461 shares in the last quarter. Howard Capital Management Inc. raised its holdings in APA by 0.5% in the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company's stock valued at $2,303,000 after acquiring an additional 485 shares in the last quarter. Finally, one8zero8 LLC lifted its stake in APA by 1.2% in the third quarter. one8zero8 LLC now owns 42,254 shares of the company's stock worth $1,026,000 after acquiring an additional 488 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company's stock.

APA Company Profile

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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