Barclays Cuts APA (NASDAQ:APA) Price Target to $40.00

APA (NASDAQ:APA) had its target price lowered by Barclays from $41.00 to $40.00 in a report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts also recently issued reports on APA. Sanford C. Bernstein raised their price target on APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 20th. Zacks Research cut shares of APA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group reduced their target price on shares of APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen lowered shares of APA from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Mizuho raised shares of APA to a “strong sell” rating in a research note on Friday, July 31st. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.50.

APA Trading Up 2.5%

Shares of NASDAQ APA opened at $43.45 on Monday. APA has a 1-year low of $19.96 and a 1-year high of $45.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day moving average is $35.69 and its two-hundred day moving average is $35.61. The stock has a market capitalization of $15.22 billion, a P/E ratio of 9.19 and a beta of 0.35.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, research analysts expect that APA will post 5.25 EPS for the current year.

Hedge Funds Weigh In On APA

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its stake in APA by 4,810.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 114,905 shares of the company’s stock worth $3,742,000 after purchasing an additional 112,565 shares during the period. New Mexico Educational Retirement Board boosted its stake in shares of APA by 7.3% during the second quarter. New Mexico Educational Retirement Board now owns 17,649 shares of the company’s stock valued at $575,000 after purchasing an additional 1,200 shares during the period. Mufg Securities Americas Inc. boosted its stake in shares of APA by 8.5% during the second quarter. Mufg Securities Americas Inc. now owns 10,647 shares of the company’s stock valued at $347,000 after purchasing an additional 833 shares during the period. Hsbc Holdings PLC grew its holdings in shares of APA by 10.9% in the second quarter. Hsbc Holdings PLC now owns 454,353 shares of the company’s stock worth $14,830,000 after purchasing an additional 44,788 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of APA in the second quarter worth about $3,463,000. Institutional investors own 83.01% of the company’s stock.

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.