APA (NASDAQ:APA) Price Target Raised to $58.00

by · The Cerbat Gem

APA (NASDAQ:APA – Get Free Report) had its price objective lifted by Susquehanna from $47.00 to $58.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 16.56% from the company’s previous close.

APA has been the topic of several other reports. Zacks Research raised APA from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Royal Bank Of Canada lifted their target price on APA from $47.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, October 15th. KeyCorp set a $46.00 price target on APA in a research note on Wednesday, August 12th. Truist Financial boosted their price target on APA from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Finally, Raymond James Financial upped their price target on APA from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.76.

Get Our Latest Stock Analysis on APA

APA Trading Up 1.2%

Shares of NASDAQ APA opened at $49.76 on Tuesday. The firm’s 50 day moving average price is $43.89 and its 200-day moving average price is $39.26. The company has a market cap of $17.43 billion, a PE ratio of 10.52, a P/E/G ratio of 0.82 and a beta of 0.42. APA has a 52-week low of $21.63 and a 52-week high of $49.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.95 and a current ratio of 0.95.

APA (NASDAQ:APA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period last year, the business earned $0.87 EPS. On average, equities research analysts expect that APA will post 6.00 EPS for the current fiscal year.

APA announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 16th that authorizes the company to buy back 40,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On APA

A number of large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management lifted its holdings in shares of APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC purchased a new position in shares of APA in the 1st quarter worth $28,000. Compass Financial Management LLC bought a new stake in shares of APA in the second quarter worth $33,000. MidFirst Bank bought a new stake in shares of APA in the second quarter worth $33,000. Finally, Global Assets Advisory LLC bought a new stake in shares of APA in the first quarter worth $44,000. Institutional investors own 83.01% of the company’s stock.

About APA

(Get Free Report)

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA’s principal producing areas include the Permian Basin in the United States and Egypt’s Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.

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