APA (NASDAQ:APA) Stock Rating Reaffirmed by Barclays

APA (NASDAQ:APA)‘s stock had its “equal weight” rating reiterated by Barclays in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $35.00 price target on the stock. Barclays‘s price target suggests a potential upside of 47.68% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Mizuho boosted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price target on shares of APA in a research report on Thursday, September 5th. Sanford C. Bernstein decreased their price objective on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Bank of America reiterated an “underperform” rating and set a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Finally, Scotiabank decreased their target price on shares of APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, APA currently has an average rating of “Hold” and an average price target of $37.00.

APA Stock Up 0.4 %

APA stock opened at $23.70 on Wednesday. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 2.65 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day moving average is $28.81 and its two-hundred day moving average is $30.31. APA has a fifty-two week low of $22.72 and a fifty-two week high of $44.37.

APA (NASDAQ:APA) last issued its quarterly earnings data 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. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. As a group, analysts forecast that APA will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On APA

A number of hedge funds have recently bought and sold shares of APA. Sanctuary Advisors LLC bought a new stake in shares of APA in the 2nd quarter worth about $308,000. Teachers Retirement System of The State of Kentucky grew its position in APA by 12.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after acquiring an additional 100,160 shares in the last quarter. Cetera Investment Advisers grew its position in APA by 160.1% in the second quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock worth $2,225,000 after acquiring an additional 46,535 shares in the last quarter. IMS Capital Management bought a new stake in APA during the second quarter worth approximately $318,000. Finally, Truist Financial Corp raised its position in APA by 44.0% during the second quarter. Truist Financial Corp now owns 38,710 shares of the company’s stock valued at $1,140,000 after purchasing an additional 11,827 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

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.