Citigroup Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price upped by Citigroup from $15.00 to $18.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. Susquehanna decreased their target price on shares of APA from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada cut their price target on shares of APA from $27.00 to $24.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Barclays cut their price target on shares of APA from $25.00 to $19.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a “sell” rating and set a $23.00 price target on shares of APA in a report on Wednesday, March 19th. Finally, Scotiabank cut their price target on shares of APA from $26.00 to $14.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, APA has a consensus rating of “Hold” and an average price target of $25.53.

APA Price Performance

Shares of NASDAQ:APA opened at $17.32 on Monday. The firm’s 50 day moving average is $17.46 and its two-hundred day moving average is $20.65. APA has a 52 week low of $13.58 and a 52 week high of $33.41. The firm has a market capitalization of $6.26 billion, a P/E ratio of 2.45 and a beta of 1.18. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.17 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Analysts anticipate that APA will post 4.03 earnings per share for the current year.

Institutional Investors Weigh In On APA

A number of hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. increased its stake in shares of APA by 1,087.9% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after acquiring an additional 1,077 shares in the last quarter. Riverview Trust Co increased its stake in shares of APA by 5,718.2% in the 4th quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after acquiring an additional 1,258 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after acquiring an additional 1,382 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after acquiring an additional 586 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock valued at $32,000 after purchasing an additional 1,288 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.