APA (NASDAQ:APA) Price Target Raised to $29.00 at Mizuho

APA (NASDAQ:APA) had its price target hoisted by equities research analysts at Mizuho from $24.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Mizuho’s price objective would suggest a potential downside of 19.19% from the company’s previous close.

A number of other equities research analysts also recently weighed in on APA. Stephens raised their target price on APA from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Tuesday, February 17th. William Blair started coverage on APA in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price objective on the stock. Zacks Research upgraded APA from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 26th. Bank of America increased their target price on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a report on Monday. Finally, Sanford C. Bernstein reduced their price target on shares of APA from $26.00 to $25.00 and set a “market perform” rating on the stock in a research note on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.16.

APA Price Performance

APA stock traded up $1.35 during mid-day trading on Tuesday, hitting $35.89. The stock had a trading volume of 3,313,501 shares, compared to its average volume of 7,210,344. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. APA has a 52 week low of $13.58 and a 52 week high of $36.00. The firm has a market capitalization of $12.68 billion, a P/E ratio of 8.99, a P/E/G ratio of 17.00 and a beta of 0.67. The firm has a fifty day simple moving average of $28.08 and a 200 day simple moving average of $25.47.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share 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 net margin of 15.55% and a return on equity of 19.89%. The firm’s quarterly revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, research analysts forecast that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Several institutional investors have recently modified their holdings of APA. Deseret Mutual Benefit Administrators increased its holdings in APA by 276.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after buying an additional 891 shares in the last quarter. Summit Securities Group LLC lifted its stake in APA by 115.1% during the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after acquiring an additional 710 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of APA during the 3rd quarter valued at about $34,000. Camelot Portfolios LLC bought a new stake in shares of APA in the fourth quarter worth approximately $37,000. Finally, Spire Wealth Management grew its stake in shares of APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after acquiring an additional 977 shares during the period. 83.01% of the stock is owned by hedge funds and other 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.