JPMorgan Chase & Co. Increases APA (NASDAQ:APA) Price Target to $28.00

APA (NASDAQ:APA) had its price objective raised by equities researchers at JPMorgan Chase & Co. from $25.00 to $28.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 17.20% from the stock’s current price.

APA has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on shares of APA from $28.00 to $30.00 and gave the company a “market perform” rating in a research report on Monday, October 13th. Morgan Stanley lowered their price target on APA from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 14th. The Goldman Sachs Group upgraded APA from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Piper Sandler lifted their price objective on APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, August 14th. Finally, Cfra Research upgraded APA to a “hold” rating in a research note on Friday, August 8th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.44.

APA Stock Performance

Shares of NASDAQ APA opened at $23.89 on Tuesday. APA has a 12 month low of $13.58 and a 12 month high of $25.83. The company has a market cap of $8.47 billion, a P/E ratio of 7.99, a P/E/G ratio of 6.28 and a beta of 1.12. The business’s 50 day moving average is $23.46 and its two-hundred day moving average is $20.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.19. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the company posted $1.00 earnings per share. APA’s quarterly revenue was down 16.4% on a year-over-year basis. On average, equities analysts expect that APA will post 4.03 EPS for the current year.

Institutional Trading of APA

Large investors have recently bought and sold shares of the stock. Sunpointe LLC acquired a new position in APA during the third quarter worth $357,000. United Capital Management of KS Inc. acquired a new stake in shares of APA in the 3rd quarter valued at $1,214,000. Crossmark Global Holdings Inc. grew its holdings in shares of APA by 132.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 38,676 shares of the company’s stock worth $939,000 after purchasing an additional 22,006 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in shares of APA by 9.2% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 28,971 shares of the company’s stock worth $703,000 after purchasing an additional 2,431 shares in the last quarter. Finally, IFG Advisory LLC lifted its holdings in APA by 28.3% during the 3rd quarter. IFG Advisory LLC now owns 17,030 shares of the company’s stock valued at $413,000 after purchasing an additional 3,752 shares during the last quarter. 83.01% of the stock is currently 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.