APA (NASDAQ:APA) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of APA (NASDAQ:APA) in a report released on Thursday morning, Benzinga reports. They currently have a $41.00 price objective on the stock.

APA has been the topic of several other research reports. StockNews.com downgraded shares of APA from a buy rating to a hold rating in a report on Friday, May 10th. Mizuho raised their price target on shares of APA from $34.00 to $35.00 and gave the company an underperform rating in a research report on Tuesday, May 21st. UBS Group decreased their price objective on shares of APA from $38.00 to $35.00 and set a neutral rating for the company in a research report on Tuesday, August 6th. Susquehanna dropped their target price on APA from $57.00 to $52.00 and set a positive rating on the stock in a research report on Wednesday. Finally, Evercore ISI cut APA from an outperform rating to an inline rating and reduced their price target for the stock from $52.00 to $39.00 in a report on Friday, June 14th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of Hold and a consensus target price of $37.81.

APA Stock Performance

APA stock opened at $25.97 on Thursday. APA has a twelve month low of $25.69 and a twelve month high of $45.38. The business’s fifty day simple moving average is $29.32 and its two-hundred day simple moving average is $30.53. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 2.90 and a beta of 3.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The company’s revenue was up 41.6% compared to the same quarter last year. Analysts predict that APA will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently bought and sold shares of APA. American National Bank lifted its holdings in shares of APA by 208.5% during the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Covestor Ltd boosted its position in APA by 75.4% during the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of APA in the 4th quarter worth about $39,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in APA during the 2nd quarter valued at $42,000. 83.01% of the stock is owned by hedge funds and other 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.