Wells Fargo & Company Increases APA (NASDAQ:APA) Price Target to $21.00

APA (NASDAQ:APA) had its price target increased by investment analysts at Wells Fargo & Company from $20.00 to $21.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.54% from the company’s previous close.

Several other equities analysts have also commented on APA. UBS Group reissued a “neutral” rating and set a $19.00 price target (up from $18.00) on shares of APA in a research report on Monday, July 14th. Stephens assumed coverage on shares of APA in a research report on Tuesday, August 5th. They set an “equal weight” rating and a $24.00 target price on the stock. Cowen restated a “hold” rating on shares of APA in a research note on Thursday, August 7th. Piper Sandler reaffirmed a “neutral” rating and set a $22.00 price target (up previously from $21.00) on shares of APA in a research note on Thursday. Finally, Mizuho decreased their price objective on shares of APA from $20.00 to $19.00 and set an “underperform” rating for the company in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.61.

APA Price Performance

Shares of APA stock opened at $20.48 on Friday. The business’s fifty day moving average price is $19.40 and its 200 day moving average price is $18.97. APA has a twelve month low of $13.58 and a twelve month high of $29.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $7.33 billion, a P/E ratio of 6.85, a PEG ratio of 6.22 and a beta of 1.23.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.42. The company 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 quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the business posted $1.17 EPS. As a group, research analysts anticipate that APA will post 4.03 earnings per share for the current year.

Hedge Funds Weigh In On APA

A number of large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC grew its position in shares of APA by 2,709.8% during the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock worth $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. boosted 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 during the period. TD Private Client Wealth LLC grew its position in APA by 144.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after purchasing an additional 1,104 shares during the last quarter. CVA Family Office LLC grew its position in APA by 6,096.7% in the 2nd quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock worth $34,000 after purchasing an additional 1,829 shares during the last quarter. Finally, MAI Capital Management increased its stake in shares of APA by 76.5% in the second quarter. MAI Capital Management now owns 2,134 shares of the company’s stock valued at $39,000 after purchasing an additional 925 shares during the period. 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.