APA’s (APA) “Outperform” Rating Reiterated at Raymond James Financial

APA (NASDAQ:APA)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James Financial in a note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price target on the stock, up from their previous price target of $26.00. Raymond James Financial’s target price indicates a potential upside of 29.27% from the stock’s current price.

APA has been the topic of a number of other reports. Piper Sandler raised their price objective on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Stephens initiated coverage on APA in a report on Tuesday, August 5th. They issued an “equal weight” rating and a $24.00 target price on the stock. Cowen reaffirmed a “hold” rating on shares of APA in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on APA from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Argus raised APA to a “hold” rating in a report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.83.

APA Stock Down 2.7%

APA opened at $21.66 on Wednesday. APA has a fifty-two week low of $13.58 and a fifty-two week high of $27.48. The business has a 50-day moving average of $20.35 and a 200-day moving average of $18.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $7.75 billion, a PE ratio of 7.24, a price-to-earnings-growth ratio of 6.61 and a beta of 1.29.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business earned $1.17 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Equities research analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after buying an additional 2,894,543 shares in the last quarter. AQR Capital Management LLC boosted its stake in APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in APA by 29.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock valued at $122,328,000 after buying an additional 1,195,212 shares in the last quarter. Nuveen LLC acquired a new stake in APA in the 1st quarter valued at $22,533,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in APA by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock valued at $292,871,000 after buying an additional 1,046,893 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.