APA (NASDAQ:APA) Price Target Cut to $34.00

APA (NASDAQ:APA) had its price objective reduced by investment analysts at Truist Financial from $46.00 to $34.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 32.50% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Susquehanna lowered their price target on APA from $57.00 to $52.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. Sanford C. Bernstein lowered their price target on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Citigroup cut their price objective on APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price on shares of APA in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.43.

APA Stock Performance

APA stock opened at $25.66 on Monday. APA has a one year low of $22.72 and a one year high of $43.58. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 2.87 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day simple moving average of $27.33 and a two-hundred day simple moving average of $29.75.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. On average, equities analysts forecast that APA will post 4.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunpointe LLC lifted its stake in APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares in the last quarter. GAMMA Investing LLC lifted its position in APA by 12.0% during the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after buying an additional 380 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in APA by 6.7% during the second quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after buying an additional 429 shares during the last quarter. Stephens Inc. AR grew its holdings in APA by 0.9% in the 4th quarter. Stephens Inc. AR now owns 49,475 shares of the company’s stock valued at $1,775,000 after buying an additional 436 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of APA by 18.1% in the 1st quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock worth $98,000 after acquiring an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.