APA (NASDAQ:APA) Price Target Raised to $32.00

APA (NASDAQ:APA) had its price objective increased by analysts at Capital One Financial from $31.00 to $32.00 in a report released on Wednesday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Capital One Financial‘s price objective indicates a potential upside of 34.91% from the company’s current price.

A number of other research firms have also recently commented on APA. Wolfe Research raised their target price on shares of APA from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Morgan Stanley cut their target price on APA from $23.00 to $22.00 and set an “underweight” rating for the company in a research report on Tuesday, October 14th. Stephens boosted their price target on APA from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Raymond James Financial increased their price objective on shares of APA from $28.00 to $31.00 in a report on Tuesday, October 28th. Finally, Royal Bank Of Canada lifted their price objective on shares of APA from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and an average price target of $25.05.

APA Price Performance

NASDAQ APA opened at $23.72 on Wednesday. The company has a 50-day moving average price of $23.63 and a 200-day moving average price of $20.83. APA has a 52 week low of $13.58 and a 52 week high of $25.83. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $8.41 billion, a P/E ratio of 7.90, a PEG ratio of 6.28 and a beta of 1.12.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacific Heights Asset Management LLC boosted its stake in shares of APA by 33.3% during the 2nd quarter. Pacific Heights Asset Management LLC now owns 400,000 shares of the company’s stock worth $7,316,000 after purchasing an additional 100,000 shares during the period. Fifth Third Bancorp grew its stake in shares of APA by 98.7% during the second quarter. Fifth Third Bancorp now owns 51,924 shares of the company’s stock valued at $950,000 after buying an additional 25,787 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of APA during the 1st quarter worth approximately $415,000. CWM LLC boosted its holdings in APA by 195.7% during the 2nd quarter. CWM LLC now owns 38,310 shares of the company’s stock valued at $701,000 after acquiring an additional 25,356 shares during the period. Finally, Bayforest Capital Ltd increased its stake in APA by 1,576.6% in the first quarter. Bayforest Capital Ltd now owns 18,979 shares of the company’s stock worth $399,000 after purchasing an additional 17,847 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.