Stephens Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective raised by investment analysts at Stephens from $49.00 to $51.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Stephens‘s target price suggests a potential upside of 12.05% from the company’s previous close.

Other analysts have also issued research reports about the company. Zacks Research upgraded APA from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Benchmark lifted their price target on APA from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. The Goldman Sachs Group reiterated a “sell” rating and set a $43.00 price target on shares of APA in a report on Monday, September 7th. Barclays dropped their price target on APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Monday, August 17th. Finally, Mizuho increased their price objective on APA from $36.00 to $44.00 and gave the stock an “underperform” rating in a research note on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.83.

APA Stock Up 2.3%

APA stock opened at $45.52 on Thursday. APA has a 52-week low of $22.81 and a 52-week high of $52.96. The company’s 50 day simple moving average is $45.82 and its 200-day simple moving average is $37.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $15.95 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.74 and a beta of 0.29.

APA (NASDAQ:APA) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.60 by $0.34. APA had a net margin of 19.48% and a return on equity of 24.84%. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 30.9% on a year-over-year basis. As a group, equities research analysts anticipate that APA will post 6.46 EPS for the current year.

APA announced that its board has initiated a share repurchase program on Wednesday, September 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On APA

A number of institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management raised its holdings in shares of APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after acquiring an additional 500 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in APA during the first quarter valued at $28,000. Elevated Capital Advisors LLC purchased a new position in APA in the third quarter valued at about $30,000. MidFirst Bank purchased a new position in APA in the second quarter valued at about $33,000. Finally, Compass Financial Management LLC purchased a new position in APA in the second quarter valued at about $33,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

APA Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying hydrocarbon resources, drilling and completing wells, operating producing properties, and managing related infrastructure.

APA’s principal producing areas include the Permian Basin in the United States and Egypt’s Western Desert, where it operates through joint ventures with the Egyptian General Petroleum Corporation.