APA (NASDAQ:APA – Get Free Report) had its price target decreased by investment analysts at Barclays from $41.00 to $40.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 1.16% from the stock’s previous close.
Several other analysts also recently commented on APA. JPMorgan Chase & Co. raised their target price on shares of APA from $38.00 to $41.00 in a report on Friday, May 8th. Raymond James Financial reduced their target price on shares of APA from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. KeyCorp set a $46.00 price target on APA in a report on Wednesday. The Goldman Sachs Group cut their target price on APA from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Tuesday, June 30th. Finally, Benchmark lifted their price objective on shares of APA from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.26.
Check Out Our Latest Analysis on APA
APA Stock Performance
APA (NASDAQ:APA – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). APA had a return on equity of 24.84% and a net margin of 19.48%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business posted $0.87 EPS. On average, sell-side analysts anticipate that APA will post 5.25 earnings per share for the current year.
Insider Buying and Selling
In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $40.04, for a total transaction of $392,392.00. Following the transaction, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On APA
Hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd raised its stake in shares of APA by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,229 shares of the company’s stock valued at $52,000 after acquiring an additional 330 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock worth $2,609,000 after acquiring an additional 375 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in shares of APA by 1.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock valued at $689,000 after purchasing an additional 396 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in APA by 37.9% in the second quarter. Fortitude Family Office LLC now owns 1,489 shares of the company’s stock valued at $48,000 after buying an additional 409 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in APA by 3.2% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock valued at $358,000 after purchasing an additional 461 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.
About APA
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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