Barclays Raises APA (NASDAQ:APA) Price Target to $24.00

APA (NASDAQ:APA) had its price target lifted by research analysts at Barclays from $22.00 to $24.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 1.18% from the stock’s current price.

A number of other research analysts have also commented on APA. BMO Capital Markets upped their price target on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research note on Monday, October 13th. Royal Bank Of Canada raised their price objective on APA from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Monday. Cowen reaffirmed a “hold” rating on shares of APA in a research note on Thursday, August 7th. UBS Group upped their price target on shares of APA from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, November 10th. Finally, Morgan Stanley lowered their price objective on APA from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, APA currently has an average rating of “Hold” and an average price target of $25.05.

APA Price Performance

Shares of NASDAQ APA opened at $23.72 on Wednesday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 6.28 and a beta of 1.12. APA has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The business has a 50-day moving average of $23.63 and a 200-day moving average of $20.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 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 analysts’ expectations of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. As a group, sell-side analysts predict that APA will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of APA by 34.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company’s stock worth $5,665,000 after buying an additional 68,725 shares in the last quarter. New York State Common Retirement Fund acquired a new position in APA in the first quarter worth $3,636,000. Allianz Asset Management GmbH bought a new stake in APA during the 1st quarter worth about $12,255,000. Y Intercept Hong Kong Ltd bought a new position in shares of APA in the 1st quarter valued at about $1,717,000. Finally, Oak Thistle LLC bought a new position in APA during the first quarter worth about $559,000. 83.01% of the stock is owned by institutional investors.

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.