APA (NASDAQ:APA) Rating Increased to Buy at StockNews.com

APA (NASDAQ:APA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research firms have also recently commented on APA. Johnson Rice cut shares of APA from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research report on Friday, January 5th. Roth Mkm lifted their target price on shares of APA from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of APA in a research report on Monday, April 8th. UBS Group dropped their target price on shares of APA from $48.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Finally, The Goldman Sachs Group dropped their target price on shares of APA from $35.00 to $31.00 and set a “sell” rating on the stock in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.30.

APA Stock Performance

Shares of APA opened at $33.72 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $32.14 and a 200-day moving average of $34.93. The company has a market cap of $10.18 billion, a PE ratio of 3.63 and a beta of 3.27. APA has a one year low of $29.47 and a one year high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the business posted $1.48 EPS. APA’s revenue was down 12.3% compared to the same quarter last year. On average, equities research analysts predict that APA will post 4.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC bought a new stake in APA in the first quarter worth $295,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of APA by 3,173.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,088 shares of the company’s stock valued at $706,000 after acquiring an additional 16,566 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of APA during the first quarter valued at about $145,000. Raymond James Trust N.A. bought a new position in shares of APA during the first quarter valued at about $328,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of APA by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,362,836 shares of the company’s stock valued at $56,324,000 after acquiring an additional 29,907 shares during the last quarter. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

About APA

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.