Truist Financial Lowers APA (NASDAQ:APA) Price Target to $63.00

APA (NASDAQ:APA – Get Rating) had its price objective cut by Truist Financial from $69.00 to $63.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 39.72% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Piper Sandler increased their price objective on shares of APA from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, November 17th. Citigroup increased their price objective on shares of APA from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, November 14th. StockNews.com lowered shares of APA from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 5th. Mizuho lowered shares of APA from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $52.00 to $48.00 in a research report on Tuesday, January 10th. Finally, Barclays raised their target price on shares of APA from $46.00 to $55.00 in a report on Wednesday, December 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.81.

APA Stock Performance

APA opened at $45.09 on Thursday. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 4.31, a PEG ratio of 0.16 and a beta of 3.58. The company has a fifty day moving average of $45.32 and a 200 day moving average of $42.22. APA has a fifty-two week low of $27.98 and a fifty-two week high of $51.95. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.05 and a current ratio of 1.05.

APA (NASDAQ:APA – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.92 by $0.05. APA had a net margin of 33.83% and a return on equity of 325.67%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $0.98 earnings per share. APA’s quarterly revenue was up 40.2% compared to the same quarter last year. As a group, sell-side analysts forecast that APA will post 8.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APA

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Street Markets LLC increased its position in APA by 375.2% during the 2nd quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock valued at $25,000 after purchasing an additional 559 shares during the period. James Investment Research Inc. increased its position in APA by 205.7% during the 2nd quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 508 shares during the period. Larson Financial Group LLC purchased a new position in APA during the 2nd quarter valued at about $26,000. Core Alternative Capital increased its position in APA by 657.1% during the 3rd quarter. Core Alternative Capital now owns 795 shares of the company’s stock valued at $27,000 after purchasing an additional 690 shares during the period. Finally, Creative Capital Management Investments LLC purchased a new position in APA during the 4th quarter valued at about $30,000. Institutional investors own 80.79% 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.