Bernstein Bank Trims APA (NASDAQ:APA) Target Price to $28.00

APA (NASDAQ:APA) had its target price decreased by Bernstein Bank from $30.00 to $28.00 in a research note issued on Friday. Bernstein Bank’s price target would indicate a potential upside of 11.29% from the stock’s previous close.

Other research analysts have also issued reports about the company. Sanford C. Bernstein reduced their target price on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Mizuho reduced their target price on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $41.00 price target on shares of APA in a research note on Tuesday, September 17th. Wells Fargo & Company decreased their target price on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group cut their price target on shares of APA from $30.00 to $26.00 and set a “sell” rating on the stock in a report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.18.

APA Stock Performance

NASDAQ APA opened at $25.16 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. APA has a 1-year low of $22.72 and a 1-year high of $43.58. The business has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $29.06. The stock has a market capitalization of $9.34 billion, a PE ratio of 2.81 and a beta of 3.23.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 EPS. On average, research analysts predict that APA will post 3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

A number of large investors have recently bought and sold shares of APA. American National Bank increased its stake in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares during the last quarter. Covestor Ltd raised its position in shares of APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after buying an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 acquiring an additional 1,079 shares during the last quarter. Rothschild Investment LLC purchased a new stake in APA during the second quarter valued at about $42,000. Finally, GPS Wealth Strategies Group LLC increased its stake in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.