APA (NASDAQ:APA) Price Target Raised to $30.00 at The Goldman Sachs Group

APA (NASDAQ:APA) had its price objective upped by analysts at The Goldman Sachs Group from $29.00 to $30.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target suggests a potential downside of 23.29% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Stephens boosted their target price on APA from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 17th. Capital One Financial increased their price target on shares of APA from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, March 11th. BMO Capital Markets raised their price objective on shares of APA from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday, March 3rd. Bank of America boosted their price objective on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research report on Monday, March 16th. Finally, Raymond James Financial restated an “outperform” rating and issued a $31.00 target price on shares of APA in a report on Monday, November 24th. Seven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and an average target price of $30.84.

APA Stock Performance

NASDAQ:APA opened at $39.11 on Monday. APA has a 12 month low of $13.58 and a 12 month high of $39.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $13.82 billion, a PE ratio of 9.80 and a beta of 0.67. The business’s fifty day moving average price is $29.12 and its 200 day moving average price is $25.87.

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

Insider Buying and Selling at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. This trade represents a 77.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

Several large investors have recently modified their holdings of APA. Allspring Global Investments Holdings LLC boosted its holdings in shares of APA by 869.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 194,418 shares of the company’s stock valued at $4,872,000 after acquiring an additional 174,369 shares in the last quarter. United Capital Management of KS Inc. purchased a new position in APA during the third quarter worth about $1,214,000. Prudential Financial Inc. lifted its position in APA by 38.8% in the second quarter. Prudential Financial Inc. now owns 284,275 shares of the company’s stock valued at $5,199,000 after purchasing an additional 79,451 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in APA in the third quarter valued at about $2,337,000. Finally, AE Wealth Management LLC boosted its holdings in APA by 2,049.4% in the 3rd quarter. AE Wealth Management LLC now owns 403,511 shares of the company’s stock valued at $9,797,000 after purchasing an additional 384,738 shares in the last quarter. Hedge funds and other institutional investors 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.