APA (NASDAQ:APA) Price Target Lowered to $45.00 at BMO Capital Markets

by · The Cerbat Gem

APA (NASDAQ:APA – Get Free Report) had its price objective decreased by stock analysts at BMO Capital Markets from $47.00 to $45.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 23.48% from the stock’s previous close.

Several other equities research analysts have also recently commented on the company. Barclays raised APA from an “underweight” rating to an “equal weight” rating and set a $35.00 target price for the company in a research note on Monday, March 23rd. Piper Sandler raised their price objective on shares of APA from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Zacks Research upgraded shares of APA from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Capital One Financial boosted their target price on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of APA from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.81.

View Our Latest Stock Analysis on APA

APA Trading Down 1.7%

APA stock traded down $0.65 during midday trading on Wednesday, hitting $36.44. The stock had a trading volume of 654,567 shares, compared to its average volume of 7,919,920. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market cap of $12.88 billion, a P/E ratio of 8.50 and a beta of 0.38. The business has a fifty day moving average price of $37.80 and a two-hundred day moving average price of $29.79. APA has a 1-year low of $16.15 and a 1-year high of $45.66.

APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. APA had a return on equity of 20.70% and a net margin of 17.38%.The business’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. On average, sell-side analysts predict that APA will post 5.35 earnings per share for the current fiscal year.

Insider Buying and Selling at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director directly owned 6,634 shares of the company’s stock, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is owned by insiders.

Institutional Trading of APA

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its stake in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of APA in the 1st quarter worth about $28,000. Deseret Mutual Benefit Administrators lifted its position in APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after acquiring an additional 891 shares in the last quarter. Summit Securities Group LLC lifted its position in APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in APA during the 3rd quarter valued at about $34,000. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

(Get Free Report)

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.

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