APA (NASDAQ:APA) PT Lowered to $47.00 at Piper Sandler

APA (NASDAQ:APAGet Rating) had its price target decreased by equities research analysts at Piper Sandler from $54.00 to $47.00 in a note issued to investors on Friday, The Fly reports. Piper Sandler’s price objective would suggest a potential upside of 45.02% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. KeyCorp raised their price objective on shares of APA from $44.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, April 4th. Raymond James raised their price objective on shares of APA from $59.00 to $75.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Susquehanna Bancshares raised their price objective on shares of APA from $42.00 to $52.00 in a research report on Monday, April 25th. Stifel Nicolaus raised their price objective on shares of APA from $51.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Finally, Mizuho reduced their price target on shares of APA from $60.00 to $56.00 in a research report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.63.

APA Stock Performance

NASDAQ APA opened at $32.41 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 6.77. APA has a 52-week low of $15.55 and a 52-week high of $51.95. The business’s 50-day moving average price is $40.28 and its 200 day moving average price is $38.35. The firm has a market cap of $10.96 billion, a P/E ratio of 4.63, a P/E/G ratio of 0.17 and a beta of 4.06.

APA (NASDAQ:APAGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.16). APA had a return on equity of 11,632.79% and a net margin of 30.21%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s quarterly revenue was up 42.7% compared to the same quarter last year. On average, equities research analysts expect that APA will post 10.34 earnings per share for the current year.

Insider Buying and Selling

In related news, insider P Anthony Lannie sold 86,750 shares of the company’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $41.26, for a total transaction of $3,579,305.00. Following the completion of the sale, the insider now directly owns 58,844 shares of the company’s stock, valued at approximately $2,427,903.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd lifted its holdings in APA by 117.8% in the 1st quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after buying an additional 437 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of APA in the 4th quarter valued at about $30,000. Tobam acquired a new stake in shares of APA in the 1st quarter valued at about $74,000. Outfitter Financial LLC acquired a new stake in shares of APA in the 4th quarter valued at about $48,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of APA by 28.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,819 shares of the company’s stock valued at $75,000 after purchasing an additional 399 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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