APA (NASDAQ:APA) Receives Neutral Rating from Piper Sandler

APA (NASDAQ:APA)‘s stock had its “neutral” rating reiterated by research analysts at Piper Sandler in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They currently have a $22.00 price objective on the stock, up from their prior price objective of $21.00. Piper Sandler’s price objective indicates a potential upside of 7.42% from the stock’s current price.

A number of other brokerages have also recently commented on APA. Cowen reiterated a “hold” rating on shares of APA in a research note on Thursday, August 7th. Barclays raised their target price on APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. UBS Group reissued a “neutral” rating and issued a $19.00 price objective (up from $18.00) on shares of APA in a research report on Monday, July 14th. Susquehanna cut their price target on APA from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price target on APA from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, APA has a consensus rating of “Hold” and a consensus price target of $23.61.

APA Trading Down 0.0%

Shares of APA stock opened at $20.48 on Thursday. The stock’s fifty day moving average price is $19.40 and its two-hundred day moving average price is $19.00. The company has a market cap of $7.33 billion, a PE ratio of 6.85, a P/E/G ratio of 6.23 and a beta of 1.23. APA has a fifty-two week low of $13.58 and a fifty-two week high of $29.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.80 and a current ratio of 0.80.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. APA had a return on equity of 20.98% and a net margin of 10.53%. The company’s revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. Equities analysts predict that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in shares of APA by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 113,913 shares of the company’s stock worth $2,630,000 after purchasing an additional 449 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of APA by 1.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company’s stock valued at $1,018,000 after purchasing an additional 517 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of APA by 19.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 3,349 shares of the company’s stock valued at $61,000 after acquiring an additional 550 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in APA by 0.6% during the 2nd quarter. Wealthfront Advisers LLC now owns 104,858 shares of the company’s stock valued at $1,918,000 after purchasing an additional 612 shares during the last quarter. Finally, Cullen Investment Group LTD. grew its position in APA by 5.9% in the 2nd quarter. Cullen Investment Group LTD. now owns 11,497 shares of the company’s stock worth $210,000 after purchasing an additional 637 shares during the period. 83.01% of the stock is currently owned by hedge funds and other institutional investors.

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.