UBS Group Increases APA (NASDAQ:APA) Price Target to $26.00

APA (NASDAQ:APA) had its price objective boosted by UBS Group from $25.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 6.74% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of APA from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Morgan Stanley reduced 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. Cowen reissued a “hold” rating on shares of APA in a report on Thursday, August 7th. The Goldman Sachs Group raised APA from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Stephens lifted their price target on APA from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.17.

APA Trading Up 2.2%

Shares of NASDAQ:APA traded up $0.53 during midday trading on Monday, hitting $24.36. 3,447,523 shares of the stock traded hands, compared to its average volume of 7,816,235. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $23.39 and its two-hundred day moving average is $20.42. The stock has a market capitalization of $8.71 billion, a PE ratio of 8.14, a P/E/G ratio of 6.28 and a beta of 1.12. APA has a one year low of $13.58 and a one year high of $25.83.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.APA’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, research analysts forecast that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

Institutional investors and hedge funds have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators raised its stake in APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after purchasing an additional 891 shares during the period. TD Private Client Wealth LLC boosted its position in shares of APA by 144.9% during the second quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after acquiring an additional 1,104 shares during the last quarter. CVA Family Office LLC grew its stake in APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after acquiring an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in APA in the 3rd quarter valued at $34,000. Finally, Spire Wealth Management lifted its stake in APA by 179.6% in the 3rd quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after purchasing an additional 977 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Company Profile

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.