APA (NASDAQ:APA) Stock Rating Reaffirmed as Equal Weight by Stephens

APA (NASDAQ:APA)‘s stock had its “equal weight” rating restated by analysts at Stephens in a report issued on Friday, Benzinga reports. They presently have a $49.00 target price on the stock. Stephens’ target price suggests a potential upside of 2.67% from the company’s current price.

A number of other brokerages have also recently issued reports on APA. Raymond James Financial lifted their price objective on APA from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reissued a “sell” rating and set a $43.00 price objective on shares of APA in a report on Monday, September 7th. Benchmark lifted their price objective on APA from $40.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Susquehanna lifted their price objective on APA from $45.00 to $47.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Finally, KeyCorp set a $46.00 price objective on APA in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.59.

APA Stock Performance

APA traded up $0.89 during trading on Friday, reaching $47.73. 1,962,753 shares of the company’s stock were exchanged, compared to its average volume of 6,684,293. APA has a fifty-two week low of $21.63 and a fifty-two week high of $47.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $42.77 and a 200 day moving average price of $39.07. The company has a market capitalization of $16.72 billion, a P/E ratio of 10.09, a PEG ratio of 0.78 and a beta of 0.42.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.01). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.46 billion. APA had a return on equity of 24.84% and a net margin of 19.48%. During the same quarter in the prior year, the firm earned $0.87 EPS. As a group, analysts predict that APA will post 5.89 earnings per share for the current fiscal year.

APA declared that its board has initiated a share buyback plan on Wednesday, September 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Share repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management grew its position in shares of APA by 520.8% during the 1st quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock worth $25,000 after buying an additional 500 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of APA during the 1st quarter worth about $28,000. MidFirst Bank acquired a new position in shares of APA during the 2nd quarter worth about $33,000. Compass Financial Management LLC acquired a new position in shares of APA during the 2nd quarter worth about $33,000. Finally, Gables Capital Management Inc. acquired a new position in shares of APA during the 2nd quarter worth about $36,000. 83.01% of the stock is owned by institutional investors.

About APA

APA Corporation (NASDAQ:APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying prospective resources, drilling and completing wells, and managing producing assets across multiple international markets.

APA’s operations have historically been concentrated in the Permian Basin of the United States and in Egypt’s Western Desert, where it participates in exploration and production activities through joint ventures.