Wolfe Research Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

by · The Cerbat Gem

APA (NASDAQ:APA – Get Free Report) had its price objective lowered by equities researchers at Wolfe Research from $37.00 to $36.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Wolfe Research’s target price indicates a potential upside of 47.12% from the stock’s current price.

APA has been the subject of several other reports. UBS Group upped their price target on APA from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. decreased their price objective on APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Weiss Ratings reissued a “hold (c)” rating on shares of APA in a research report on Monday, December 29th. Evercore ISI lowered their price target on APA from $21.00 to $16.00 in a report on Tuesday, November 4th. Finally, Capital One Financial upped their target price on APA from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Six analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.64.

Get Our Latest Stock Report on APA

APA Trading Down 3.5%

Shares of NASDAQ:APA opened at $24.47 on Monday. APA has a 52-week low of $13.58 and a 52-week high of $27.72. The stock has a market capitalization of $8.68 billion, a price-to-earnings ratio of 5.88, a PEG ratio of 10.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $24.47 and its two-hundred day simple moving average is $22.50.

APA (NASDAQ:APA – Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. APA had a net margin of 15.49% and a return on equity of 19.86%. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. Analysts expect that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of APA by 8.5% in the fourth quarter. GAMMA Investing LLC now owns 48,954 shares of the company’s stock valued at $1,197,000 after purchasing an additional 3,820 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of APA during the third quarter worth about $393,000. CMC Financial Group acquired a new stake in APA during the 3rd quarter worth approximately $317,000. Cambria Investment Management L.P. purchased a new stake in shares of APA during the third quarter worth $9,192,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of APA in the third quarter valued at $887,000. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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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