APA (NASDAQ:APA) Raised to “Hold” at The Goldman Sachs Group

APA (NASDAQ:APA) was upgraded by analysts at The Goldman Sachs Group from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also recently commented on APA. Stephens initiated coverage on shares of APA in a report on Tuesday, August 5th. They issued an “equal weight” rating and a $24.00 target price for the company. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price (up from $26.00) on shares of APA in a research note on Wednesday, September 10th. Piper Sandler lifted their price target on shares of APA from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, August 14th. Cfra Research raised shares of APA to a “hold” rating in a research report on Friday, August 8th. Finally, Mizuho dropped their target price on shares of APA from $19.00 to $18.00 and set an “underperform” rating on the stock in a research report on Monday, September 15th. Three research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, APA presently has an average rating of “Hold” and a consensus target price of $23.24.

APA Stock Down 0.2%

APA stock opened at $25.08 on Monday. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 7.22 and a beta of 1.16. 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 company’s 50-day moving average price is $22.23 and its two-hundred day moving average price is $19.47. APA has a 52 week low of $13.58 and a 52 week high of $27.22.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.42. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. On average, analysts expect that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Several institutional investors and hedge funds have recently added to or reduced their stakes in APA. GAMMA Investing LLC raised its holdings in APA by 3,303.0% during the 1st quarter. GAMMA Investing LLC now owns 268,194 shares of the company’s stock worth $5,637,000 after purchasing an additional 260,313 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of APA by 318.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 135,365 shares of the company’s stock worth $2,845,000 after acquiring an additional 102,978 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of APA by 3.1% during the 1st quarter. Yousif Capital Management LLC now owns 54,298 shares of the company’s stock worth $1,141,000 after acquiring an additional 1,628 shares in the last quarter. Manitou Investment Management Ltd. acquired a new stake in shares of APA in the 1st quarter valued at approximately $66,000. Finally, SG Americas Securities LLC acquired a new stake in APA during the 1st quarter valued at $2,337,000. 83.01% of the stock is owned by 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.