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

APA (NASDAQ:APA) had its target price increased by equities research analysts at Stephens from $22.00 to $23.00 in a note issued to investors on Thursday,MarketScreener reports. The firm presently has an “equal weight” rating on the stock. Stephens’ price target would suggest a potential upside of 6.19% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Cfra Research raised shares of APA to a “hold” rating in a research note on Friday, August 8th. Scotiabank upped their price objective on APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Royal Bank Of Canada increased their price objective on APA from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Monday, October 13th. Roth Capital lifted their target price on APA from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Finally, UBS Group upped their price target on APA from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.58.

APA Price Performance

Shares of APA stock opened at $21.66 on Thursday. The stock has a market capitalization of $7.75 billion, a P/E ratio of 7.24, a PEG ratio of 6.28 and a beta of 1.12. The business has a 50 day simple moving average of $23.37 and a two-hundred day simple moving average of $20.27. APA has a 12 month low of $13.58 and a 12 month high of $25.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the business posted $1.00 earnings per share. APA’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, analysts predict that APA will post 4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new position in APA in the first quarter worth approximately $1,137,000. D.A. Davidson & CO. increased its position in shares of APA by 22.1% in the 1st quarter. D.A. Davidson & CO. now owns 25,785 shares of the company’s stock valued at $542,000 after purchasing an additional 4,672 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of APA by 2,638.8% in the 1st quarter. Penserra Capital Management LLC now owns 25,635 shares of the company’s stock valued at $538,000 after purchasing an additional 24,699 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of APA by 34.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 269,512 shares of the company’s stock worth $5,665,000 after purchasing an additional 68,725 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of APA by 41.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 112,962 shares of the company’s stock worth $2,374,000 after purchasing an additional 33,041 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.