Barclays Raises APA (NASDAQ:APA) Price Target to $24.00

APA (NASDAQ:APA) had its price target upped by stock analysts at Barclays from $22.00 to $24.00 in a report issued on Wednesday,MarketScreener reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 1.18% from the stock’s current price.

Several other analysts have also weighed in on APA. Cfra Research upgraded APA to a “hold” rating in a report on Friday, August 8th. Scotiabank lifted their price objective on shares of APA from $22.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Wells Fargo & Company increased their target price on shares of APA from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, August 15th. Weiss Ratings restated a “hold (c-)” rating on shares of APA in a research report on Monday. Finally, The Goldman Sachs Group upgraded APA from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.05.

APA Stock Down 4.8%

Shares of APA stock opened at $23.72 on Wednesday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 6.28 and a beta of 1.12. APA has a twelve month low of $13.58 and a twelve month high of $25.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The business’s 50 day simple moving average is $23.63 and its 200-day simple moving average is $20.83.

APA (NASDAQ:APA) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. APA had a return on equity of 20.98% and a net margin of 10.53%.The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Equities research analysts forecast that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently bought and sold shares of APA. Deseret Mutual Benefit Administrators raised its position in shares of APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after buying an additional 891 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in APA during the third quarter worth about $34,000. Spire Wealth Management boosted its holdings in APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock valued at $37,000 after acquiring an additional 977 shares during the last quarter. Community Bank N.A. bought a new position in shares of APA in the 3rd quarter valued at about $43,000. Finally, CVA Family Office LLC grew its holdings in APA by 6,096.7% during the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after acquiring an additional 1,829 shares during the period. 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.