APA (NASDAQ:APA) Given New $31.00 Price Target at Susquehanna

APA (NASDAQ:APA) had its price target decreased by analysts at Susquehanna from $33.00 to $31.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 53.64% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Mizuho reduced their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Citigroup reduced their price target on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $32.00 price objective on shares of APA in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, UBS Group decreased their target price on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $29.80.

APA Stock Performance

Shares of APA traded down $0.52 during trading hours on Monday, hitting $20.18. The stock had a trading volume of 2,569,492 shares, compared to its average volume of 7,584,767. The firm has a 50-day moving average price of $22.98 and a 200 day moving average price of $23.98. APA has a fifty-two week low of $19.84 and a fifty-two week high of $36.04. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 2.85 and a beta of 3.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. As a group, research analysts anticipate that APA will post 4.03 EPS for the current year.

Insider Buying and Selling at APA

In other APA news, Director Juliet S. Ellis acquired 4,391 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. The trade was a 54.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. abrdn plc lifted its position in shares of APA by 48.6% during the 3rd quarter. abrdn plc now owns 72,994 shares of the company’s stock worth $1,810,000 after buying an additional 23,881 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in APA during the 3rd quarter worth $214,000. Janney Montgomery Scott LLC lifted its position in APA by 5.0% in the third quarter. Janney Montgomery Scott LLC now owns 52,994 shares of the company’s stock valued at $1,296,000 after acquiring an additional 2,500 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in APA by 112.9% in the third quarter. Harbor Capital Advisors Inc. now owns 31,465 shares of the company’s stock valued at $770,000 after acquiring an additional 16,689 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of APA by 18.5% during the third quarter. Van ECK Associates Corp now owns 76,641 shares of the company’s stock worth $1,877,000 after purchasing an additional 11,964 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.