Raymond James Financial Increases APA (NASDAQ:APA) Price Target to $31.00

APA (NASDAQ:APA) had its price target raised by investment analysts at Raymond James Financial from $28.00 to $31.00 in a report released on Tuesday,MarketScreener reports. Raymond James Financial’s price target indicates a potential upside of 37.53% from the company’s current price.

Several other brokerages have also recently commented on APA. Cowen restated a “hold” rating on shares of APA in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APA in a report on Tuesday, October 14th. Barclays upped their price objective on APA from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, August 8th. Morgan Stanley decreased their target price on APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 14th. Finally, Mizuho increased their target price on shares of APA from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Four analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.79.

APA Stock Down 0.8%

APA opened at $22.54 on Tuesday. APA has a 1-year low of $13.58 and a 1-year high of $25.83. The stock has a market cap of $8.06 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 6.33 and a beta of 1.16. The stock’s fifty day simple moving average is $23.33 and its 200 day simple moving average is $20.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, research analysts expect 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 modified their holdings of APA. Dimensional Fund Advisors LP lifted its position in APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after purchasing an additional 2,894,543 shares during the last quarter. AQR Capital Management LLC raised its holdings in APA by 157.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after buying an additional 1,869,891 shares during the last quarter. Nuveen LLC bought a new stake in APA during the 1st quarter valued at $22,533,000. Charles Schwab Investment Management Inc. boosted its position in APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock valued at $292,871,000 after buying an additional 1,046,893 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in APA by 2.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock worth $765,964,000 after acquiring an additional 1,029,961 shares during the last quarter. 83.01% of the stock is 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.