JPMorgan Chase & Co. Increases APA (NASDAQ:APA) Price Target to $38.00

APA (NASDAQ:APA) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $29.00 to $38.00 in a report issued on Friday,MarketScreener reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 0.16% from the company’s previous close.

A number of other equities analysts have also weighed in on APA. Bank of America upped their target price on shares of APA from $23.00 to $27.00 and gave the stock an “underperform” rating in a research report on Monday. William Blair started coverage on shares of APA in a report on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of APA from $22.00 to $26.00 in a research note on Monday, March 9th. Johnson Rice raised shares of APA from a “hold” rating to an “accumulate” rating and increased their price objective for the company from $35.00 to $40.00 in a report on Thursday, December 4th. Finally, The Goldman Sachs Group raised their price objective on APA from $23.00 to $29.00 and gave the company a “sell” rating in a research report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.52.

APA Stock Up 4.0%

Shares of APA opened at $38.06 on Friday. The business’s 50 day moving average is $28.84 and its 200 day moving average is $25.72. 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 12-month low of $13.58 and a 12-month high of $39.03. The company has a market capitalization of $13.44 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 16.20 and a beta of 0.67.

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

Institutional Investors Weigh In On APA

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

APA Company Profile

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.