Wells Fargo & Company Lowers APA (NASDAQ:APA) Price Target to $20.00

APA (NASDAQ:APA - Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $21.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 6.27% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada set a $22.00 price target on shares of APA and gave the company a "sector perform" rating in a report on Monday, July 14th. Piper Sandler reiterated a "neutral" rating and set a $21.00 target price (up from $19.00) on shares of APA in a research report on Thursday. Citigroup boosted their price objective on APA from $15.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Mizuho cut their price objective on shares of APA from $20.00 to $19.00 and set an "underperform" rating on the stock in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their target price on shares of APA from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $23.44.

APA Trading Down 0.1%

APA stock traded down $0.02 during mid-day trading on Friday, reaching $18.82. 5,361,436 shares of the stock traded hands, compared to its average volume of 7,272,802. The stock's fifty day moving average is $18.65 and its 200-day moving average is $19.59. The company has a market cap of $6.81 billion, a P/E ratio of 6.77, a P/E/G ratio of 6.36 and a beta of 1.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.81. APA has a 52-week low of $13.58 and a 52-week high of $33.41.

APA (NASDAQ:APA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.23. APA had a net margin of 9.75% and a return on equity of 23.22%. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm's revenue was up 35.1% on a year-over-year basis. As a group, sell-side analysts expect that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. increased its holdings in shares of APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after acquiring an additional 1,077 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock worth $30,000 after acquiring an additional 1,382 shares in the last quarter. Rakuten Securities Inc. grew its position in APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock worth $32,000 after purchasing an additional 1,288 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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 buying an additional 1,104 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of APA in the 4th quarter worth approximately $35,000. 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.