APA (NASDAQ:APA) Stock Price Expected to Rise, Wolfe Research Analyst Says

APA (NASDAQ:APA) had its price target upped by equities research analysts at Wolfe Research from $39.00 to $45.00 in a research report issued to clients and investors on Monday,MarketScreener reports. Wolfe Research’s price target points to a potential upside of 37.70% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Evercore raised their price target on APA from $21.00 to $25.00 in a research report on Thursday, February 26th. UBS Group increased their price objective on APA from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Jefferies Financial Group lifted their price objective on APA from $22.00 to $26.00 in a research report on Monday. William Blair assumed coverage on shares of APA in a report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 target price on the stock. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $31.00 target price on shares of APA in a research note on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.33.

APA Stock Up 0.9%

Shares of NASDAQ APA opened at $32.68 on Monday. The firm’s 50-day moving average is $27.04 and its two-hundred day moving average is $24.99. The company has a market capitalization of $11.54 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 16.95 and a beta of 0.67. APA has a 12-month low of $13.58 and a 12-month high of $33.42. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $0.79 EPS. The company’s revenue was down 26.6% on a year-over-year basis. Equities analysts anticipate that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently modified their holdings of APA. Deseret Mutual Benefit Administrators increased its position in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after acquiring an additional 891 shares in the last quarter. Summit Securities Group LLC lifted its position in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock worth $32,000 after acquiring an additional 710 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of APA in the third quarter valued at about $34,000. Spire Wealth Management grew its position in shares of APA by 179.6% in the third 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 last quarter. Finally, Camelot Portfolios LLC bought a new position in shares of APA in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

APA Company Profile

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.