APA (NASDAQ:APA – Get Free Report) had its price target boosted by equities research analysts at Susquehanna from $45.00 to $47.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 14.58% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the stock. Truist Financial upped their price objective on shares of APA from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday. Raymond James Financial cut their target price on APA from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Jefferies Financial Group boosted their target price on APA from $26.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. upped their target price on APA from $38.00 to $41.00 in a report on Friday, May 8th. Finally, Stephens lifted their price target on APA from $43.00 to $47.00 in a report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and a consensus price target of $40.50.
APA Price Performance
APA (NASDAQ:APA – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). APA had a net margin of 19.48% and a return on equity of 24.84%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, analysts anticipate that APA will post 4.91 earnings per share for the current fiscal year.
Insider Activity at APA
In other 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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On APA
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its holdings in APA by 520.8% during the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new position in shares of APA in the first quarter worth about $28,000. Summit Securities Group LLC raised its position in shares of APA by 115.1% in the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares during the period. MidFirst Bank bought a new stake in shares of APA in the second quarter valued at approximately $33,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of APA during the 2nd quarter valued at approximately $36,000. 83.01% of the stock is currently owned by institutional investors.
APA Company Profile
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.
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