Roth Mkm Boosts APA (NASDAQ:APA) Price Target to $37.00

APA (NASDAQ:APA) had its price objective boosted by Roth Mkm from $27.00 to $37.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 1.78% from the company’s previous close.

A number of other research firms have also issued reports on APA. Mizuho lifted their price objective on shares of APA from $24.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, March 17th. TD Cowen raised APA to a “hold” rating in a report on Monday, February 9th. Jefferies Financial Group lifted their price objective on APA from $26.00 to $36.00 and gave the stock a “hold” rating in a report on Monday. Bank of America lifted their price objective on APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday, March 16th. Finally, Stephens lifted their price objective on APA from $24.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 31st. Seven analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, APA presently has a consensus rating of “Hold” and an average target price of $38.46.

APA Trading Down 1.8%

APA opened at $36.35 on Wednesday. The firm has a market capitalization of $12.85 billion, a P/E ratio of 9.09 and a beta of 0.49. The firm’s 50 day moving average is $34.28 and its 200-day moving average is $27.98. APA has a 52-week low of $14.84 and a 52-week high of $45.66. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61.

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

Insider Buying and Selling at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director directly owned 6,634 shares in the company, valued at approximately $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

A number of institutional investors have recently made changes to their positions in APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of APA by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after acquiring an additional 2,070 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of APA by 49.6% in the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after acquiring an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after acquiring an additional 806,252 shares during the last quarter. Focus Partners Wealth increased its holdings in shares of APA by 10.6% in the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after acquiring an additional 4,297 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of APA in the 2nd quarter valued at approximately $5,199,000. 83.01% of the stock is currently owned by institutional investors.

About APA

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.