Wells Fargo & Company Begins Coverage on APA (NASDAQ:APA)

Analysts at Wells Fargo & Company initiated coverage on shares of APA (NASDAQ:APA) in a report issued on Wednesday, StockNewsAPI reports. The firm set an “overweight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 71.55% from the company’s previous close.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group lowered their price objective on APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. Truist Financial lowered their price objective on APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Morgan Stanley reissued an “underweight” rating and set a $28.00 price objective on shares of APA in a research note on Monday, April 15th. Barclays initiated coverage on APA in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 price objective on the stock. Finally, Mizuho lowered their price objective on APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.25.

APA Stock Down 1.3 %

APA stock opened at $32.06 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $32.46 and a 200-day simple moving average of $34.53. The stock has a market capitalization of $9.65 billion, a PE ratio of 3.45 and a beta of 3.27. APA has a 12 month low of $29.47 and a 12 month high of $46.15.

APA (NASDAQ:APA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The business’s revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, analysts anticipate that APA will post 4.96 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Large investors have recently bought and sold shares of the stock. American National Bank increased its holdings in APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of APA in the 3rd quarter valued at about $34,000. Rakuten Securities Inc. purchased a new position in shares of APA in the 4th quarter valued at about $34,000. Quent Capital LLC increased its holdings in shares of APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of APA in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

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.