BMO Capital Markets Increases APA (NASDAQ:APA) Price Target to $30.00

APA (NASDAQ:APA) had its price target raised by BMO Capital Markets from $28.00 to $30.00 in a report released on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 30.95% from the company’s current price.

A number of other research analysts also recently weighed in on APA. Stephens assumed coverage on APA in a research note on Tuesday, August 5th. They issued an “equal weight” rating and a $24.00 price objective on the stock. Cfra Research raised APA to a “hold” rating in a research note on Friday, August 8th. Barclays raised their price objective on APA from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. Morgan Stanley raised their price objective on APA from $22.00 to $23.00 and gave the company an “underweight” rating in a research note on Monday, August 18th. Finally, Piper Sandler raised their target price on APA from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $24.00.

APA Stock Up 0.4%

APA opened at $22.91 on Monday. The business has a 50-day moving average of $22.66 and a 200-day moving average of $19.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.80 and a quick ratio of 0.80. APA has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The company has a market capitalization of $8.20 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 6.56 and a beta of 1.16.

APA (NASDAQ:APA) last issued its quarterly earnings data 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. APA had a return on equity of 20.98% and a net margin of 10.53%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business earned $1.17 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Equities research analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently modified their holdings of the company. OLD National Bancorp IN grew its holdings in shares of APA by 12.1% during the 3rd quarter. OLD National Bancorp IN now owns 418,943 shares of the company’s stock worth $10,172,000 after purchasing an additional 45,100 shares in the last quarter. Foundation Resource Management Inc. grew its holdings in shares of APA by 4.3% during the 3rd quarter. Foundation Resource Management Inc. now owns 229,463 shares of the company’s stock worth $5,571,000 after purchasing an additional 9,423 shares in the last quarter. Berger Financial Group Inc grew its holdings in shares of APA by 1.3% during the 3rd quarter. Berger Financial Group Inc now owns 255,475 shares of the company’s stock worth $6,203,000 after purchasing an additional 3,289 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of APA by 169.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 11,570 shares of the company’s stock worth $281,000 after purchasing an additional 7,281 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of APA by 85.2% during the 3rd quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $121,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds 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.