APA (NASDAQ:APA) Stock Price Expected to Rise, Raymond James Financial Analyst Says

APA (NASDAQ:APA) had its price target upped by Raymond James Financial from $45.00 to $57.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 46.98% from the company’s current price.

APA has been the subject of a number of other reports. BMO Capital Markets decreased their price target on shares of APA from $47.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday, May 13th. Susquehanna raised their price objective on APA from $37.00 to $47.00 and gave the company a “positive” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded APA from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Mizuho upped their target price on APA from $29.00 to $32.00 and gave the stock an “underperform” rating in a research report on Thursday, May 7th. Finally, Capital One Financial increased their target price on APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.81.

APA Trading Down 0.1%

NASDAQ APA traded down $0.02 during mid-day trading on Tuesday, hitting $38.78. The company’s stock had a trading volume of 462,053 shares, compared to its average volume of 7,779,803. The firm has a market capitalization of $13.70 billion, a P/E ratio of 9.04 and a beta of 0.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. APA has a 52-week low of $16.75 and a 52-week high of $45.66. The stock’s fifty day simple moving average is $38.97 and its two-hundred day simple moving average is $30.79.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm earned $1.06 earnings per share. APA’s revenue for the quarter was down 11.7% on a year-over-year basis. Research analysts expect that APA will post 5.06 EPS for the current year.

Insider Buying and Selling at APA

In other news, VP Mark D. Maddox sold 9,800 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the sale, the vice president owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. The trade was a 12.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the completion of the sale, the director owned 6,634 shares in the company, valued at approximately $240,349.82. This trade represents a 77.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.73% of the company’s stock.

Institutional Trading of APA

Several hedge funds and other institutional investors have recently bought and sold shares of APA. Arkadios Wealth Advisors raised its stake in APA by 3.5% during the first quarter. Arkadios Wealth Advisors now owns 79,048 shares of the company’s stock valued at $3,355,000 after buying an additional 2,703 shares in the last quarter. Altshuler Shaham Ltd grew its position in shares of APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock worth $52,000 after acquiring an additional 330 shares in the last quarter. Amundi bought a new stake in shares of APA in the 1st quarter valued at approximately $584,000. EverSource Wealth Advisors LLC increased its holdings in shares of APA by 27.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,482 shares of the company’s stock valued at $233,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Empyrean Capital Partners LP acquired a new stake in shares of APA during the 1st quarter valued at approximately $6,026,000. 83.01% of the stock is owned by 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.