APA (NASDAQ:APA) Price Target Raised to $35.00 at Piper Sandler

APA (NASDAQ:APA) had its price objective lifted by research analysts at Piper Sandler from $33.00 to $35.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 8.16% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com raised APA from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Roth Mkm raised their target price on shares of APA from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Barclays assumed coverage on shares of APA in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $40.00 target price for the company. Raymond James lowered their price target on APA from $44.00 to $43.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, APA has a consensus rating of “Hold” and an average target price of $41.90.

APA Stock Performance

Shares of APA stock opened at $32.36 on Friday. APA has a fifty-two week low of $29.47 and a fifty-two week high of $46.15. The stock’s 50-day moving average is $32.37 and its two-hundred day moving average is $34.63. 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 firm has a market cap of $9.74 billion, a P/E ratio of 3.49 and a beta of 3.27.

APA (NASDAQ:APA) last released its quarterly earnings data on Thursday, February 22nd. The company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. Analysts predict that APA will post 4.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. American National Bank lifted its holdings in shares of APA by 208.5% during the 1st quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd increased its position in shares of APA by 117.8% during the first quarter. Covestor Ltd now owns 808 shares of the company’s stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of APA during the third quarter worth $34,000. Quent Capital LLC lifted its position in APA by 64.0% in the 4th quarter. Quent Capital LLC now owns 961 shares of the company’s stock valued at $34,000 after acquiring an additional 375 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in APA in the 4th quarter worth $34,000. Institutional investors own 83.01% of the company’s stock.

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.