APA (NASDAQ:APA) Price Target Lowered to $32.00 at Citigroup

APA (NASDAQ:APA) had its price objective trimmed by Citigroup from $33.00 to $32.00 in a research note published on Monday. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on APA. Scotiabank reduced their price objective on APA from $37.00 to $30.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Mizuho increased their price target on shares of APA from $34.00 to $35.00 and gave the company an underperform rating in a report on Tuesday, May 21st. UBS Group dropped their price objective on shares of APA from $38.00 to $35.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company cut their price objective on shares of APA from $50.00 to $49.00 and set an overweight rating for the company in a research report on Wednesday, August 14th. Finally, Bank of America reissued an underperform rating and set a $31.00 target price on shares of APA in a research report on Friday, June 14th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, APA currently has an average rating of Hold and an average target price of $37.62.

APA Stock Down 1.0 %

APA stock opened at $23.61 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. APA has a fifty-two week low of $22.72 and a fifty-two week high of $44.37. The firm has a fifty day moving average price of $28.92 and a two-hundred day moving average price of $30.35. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 2.64 and a beta of 3.24.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 41.6% compared to the same quarter last year. As a group, analysts forecast that APA will post 4.36 earnings per share for the current year.

Hedge Funds Weigh In On APA

Several institutional investors have recently added to or reduced their stakes in APA. Dimensional Fund Advisors LP lifted its holdings in APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock valued at $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Harris Associates L P lifted its holdings in APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock valued at $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Vanguard Group Inc. lifted its holdings in APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after acquiring an additional 1,938,335 shares during the last quarter. Finally, Webs Creek Capital Management LP bought a new position in shares of APA in the first quarter worth about $28,593,000. 83.01% of the stock is owned by institutional investors.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.