APA (NASDAQ:APA) Price Target Raised to $25.00 at Evercore

by · The Markets Daily

APA (NASDAQ:APA – Get Free Report) had its price target upped by research analysts at Evercore from $21.00 to $25.00 in a research note issued on Thursday,MarketScreener reports. Evercore’s price target would suggest a potential downside of 16.23% from the stock’s previous close.

APA has been the topic of a number of other research reports. The Goldman Sachs Group upped their price target on shares of APA from $21.00 to $23.00 and gave the company a “sell” rating in a research note on Thursday, January 22nd. William Blair began coverage on APA in a research note on Wednesday, November 26th. They set an “outperform” rating and a $32.00 target price on the stock. Citigroup increased their price objective on APA from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Zacks Research cut shares of APA from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, UBS Group raised their price target on shares of APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.39.

Read Our Latest Analysis on APA

APA Stock Performance

APA opened at $29.84 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. APA has a 12-month low of $13.58 and a 12-month high of $30.08. The business has a 50 day moving average of $26.15 and a 200-day moving average of $24.45. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 12.72 and a beta of 0.74.

APA (NASDAQ:APA – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. APA had a return on equity of 20.08% and a net margin of 15.55%.The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. On average, equities research analysts expect that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deseret Mutual Benefit Administrators increased its holdings in APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after purchasing an additional 891 shares during the period. Summit Securities Group LLC lifted its position in shares of APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after purchasing an additional 710 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of APA in the 3rd quarter worth about $34,000. Spire Wealth Management lifted its stake in shares of APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after purchasing an additional 977 shares during the period. Finally, Camelot Portfolios LLC acquired a new stake in APA during the fourth quarter worth approximately $37,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting APA

Here are the key news stories impacting APA this week:

About APA

(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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