APA (NASDAQ:APA) Price Target Lowered to $45.00 at Susquehanna

APA (NASDAQ:APA) had its price target lowered by research analysts at Susquehanna from $47.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 26.79% from the company’s previous close.

Several other brokerages have also recently weighed in on APA. Stephens raised their target price on shares of APA from $43.00 to $47.00 in a report on Wednesday, June 10th. Barclays increased their target price on APA from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on APA from $38.00 to $41.00 in a research report on Friday, May 8th. Weiss Ratings lowered shares of APA from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Finally, Sanford C. Bernstein upped their target price on shares of APA from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.35.

APA Stock Up 1.9%

Shares of APA stock traded up $0.65 during trading hours on Tuesday, reaching $35.49. 731,466 shares of the company were exchanged, compared to its average volume of 7,135,110. APA has a 1 year low of $17.86 and a 1 year high of $45.66. The stock’s fifty day moving average is $35.67 and its 200 day moving average is $33.66. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $12.54 billion, a PE ratio of 8.27 and a beta of 0.35.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a return on equity of 20.70% and a net margin of 17.38%.The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business posted $1.06 earnings per share. APA’s revenue was down 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that APA will post 5 earnings per share for the current year.

Insider Buying and Selling at APA

In other APA news, VP Mark D. Maddox sold 9,800 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total value of $392,392.00. Following the completion of the transaction, the vice president owned 66,810 shares in the company, valued at approximately $2,675,072.40. This represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On APA

Several institutional investors have recently modified their holdings of APA. Hollencrest Capital Management boosted its position in shares of APA by 520.8% in the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new position in APA during the 1st quarter valued at about $28,000. Summit Securities Group LLC raised its position 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 acquiring an additional 710 shares during the last quarter. Camelot Portfolios LLC acquired a new position in APA during the fourth quarter worth about $37,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of APA in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.