APA’s (APA) Underweight Rating Reaffirmed at Barclays

APA (NASDAQ:APA)‘s stock had its “underweight” rating restated by analysts at Barclays in a note issued to investors on Wednesday,Benzinga reports.

APA has been the topic of a number of other reports. BMO Capital Markets lifted their target price on APA from $28.00 to $30.00 and gave the stock a “market perform” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. lowered their price objective on shares of APA from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Monday, December 8th. Morgan Stanley increased their target price on shares of APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, November 20th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price objective on shares of APA in a research note on Monday, November 24th. Finally, The Goldman Sachs Group increased their price objective on APA from $19.00 to $21.00 and gave the company a “sell” rating in a report on Thursday, November 20th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.59.

APA Trading Down 1.7%

Shares of APA stock opened at $25.35 on Wednesday. The company has a market capitalization of $8.99 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 10.75 and a beta of 0.74. The stock has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $23.00. APA has a 12-month low of $13.58 and a 12-month high of $27.72. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last released its earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.19. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. APA had a return on equity of 19.86% and a net margin of 15.49%.APA’s quarterly revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. On average, sell-side analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of APA

Several institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of APA by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after acquiring an additional 2,070 shares in the last quarter. NewEdge Advisors LLC lifted its position in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after purchasing an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of APA by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after buying an additional 806,252 shares during the last quarter. Focus Partners Wealth raised its position in shares of APA by 10.6% during the 1st quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock valued at $942,000 after buying an additional 4,297 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in APA by 227.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 98,145 shares of the company’s stock worth $1,917,000 after acquiring an additional 68,149 shares in the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.