UBS Group Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

Key Points

• UBS raised its price target on APA to $45 (from $44) while maintaining a "neutral" rating, implying roughly a 31% upside from the prior close.
• Other firms also lifted targets, but consensus remains a Hold with an average price target of $38.69 (7 Buy, 20 Hold, 4 Sell), reflecting mixed analyst sentiment.
• APA beat quarterly estimates with EPS of $0.91 vs. $0.62 expected and revenue of $1.99B vs. $1.89B, though revenue was down 26.6% YoY; the stock trades around $34.37 with a $12.15B market cap and a 52‑week range of $15.15–$45.66.

APA (NASDAQ:APA - Get Free Report) had its price target hoisted by equities researchers at UBS Group from $44.00 to $45.00 in a research note issued to investors on Friday,MarketScreener reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price objective suggests a potential upside of 30.94% from the stock's previous close.

Several other research firms also recently weighed in on APA. BMO Capital Markets increased their price target on APA from $35.00 to $47.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 7th. Piper Sandler raised their price target on APA from $30.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Scotiabank upgraded shares of APA to a "hold" rating in a research report on Friday, March 27th. Stephens boosted their price objective on shares of APA from $24.00 to $45.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 31st. Finally, Susquehanna raised their price target on APA from $32.00 to $37.00 and gave the stock a "positive" rating in a research report on Tuesday, March 3rd. Seven research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $38.69.

APA Price Performance

APA stock opened at $34.37 on Friday. The company has a fifty day moving average price of $34.70 and a 200-day moving average price of $28.11. APA has a 52-week low of $15.15 and a 52-week high of $45.66. The company has a market capitalization of $12.15 billion, a P/E ratio of 8.61 and a beta of 0.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.82.

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, topping analysts' consensus estimates of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The company had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm earned $0.79 EPS. The business's revenue was down 26.6% on a year-over-year basis. As a group, equities analysts expect that APA will post 4.03 EPS for the current year.

Insider Transactions at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the business's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the transaction, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company's stock.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators grew its stake in shares of APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company's stock worth $29,000 after buying an additional 891 shares in the last quarter. Summit Securities Group LLC boosted its position in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company's stock valued at $32,000 after buying an additional 710 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of APA during the third quarter valued at $34,000. Spire Wealth Management increased its holdings in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company's stock valued at $37,000 after buying an additional 977 shares during the period. Finally, Camelot Portfolios LLC bought a new position in APA in the fourth quarter worth about $37,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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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