Jefferies Financial Group Raises APA (NASDAQ:APA) Price Target to $22.00

APA (NASDAQ:APA) had its price objective lifted by equities researchers at Jefferies Financial Group from $21.00 to $22.00 in a research note issued on Tuesday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s price target would suggest a potential downside of 17.11% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley lifted their price objective on shares of APA from $22.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, November 20th. The Goldman Sachs Group lifted their price target on shares of APA from $19.00 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, November 20th. Susquehanna boosted their price target on shares of APA from $30.00 to $32.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. Evercore ISI dropped their price objective on APA from $21.00 to $16.00 in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, APA has a consensus rating of “Hold” and an average target price of $26.35.

APA Stock Up 4.7%

NASDAQ:APA opened at $26.54 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. APA has a 12-month low of $13.58 and a 12-month high of $27.72. The stock’s fifty day simple moving average is $25.02 and its 200-day simple moving average is $23.03. The firm has a market capitalization of $9.41 billion, a P/E ratio of 6.38, a P/E/G ratio of 11.31 and a beta of 0.74.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. APA had a return on equity of 19.86% and a net margin of 15.49%.The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’s revenue was down 16.4% on a year-over-year basis. Equities research analysts expect that APA will post 4.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of APA by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock worth $700,000 after purchasing an additional 2,070 shares during the last quarter. NewEdge Advisors LLC increased its holdings in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after buying an additional 3,578 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after buying an additional 806,252 shares during the last quarter. Focus Partners Wealth raised its position in APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after acquiring an additional 4,297 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in APA by 227.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 98,145 shares of the company’s stock valued at $1,917,000 after acquiring an additional 68,149 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Company Profile

APA Corporation (NASDAQ: APA) is an independent exploration and production company engaged in the acquisition, development and production of oil and natural gas resources. The company operates through three core regions: the United States, Egypt and the North Sea. Through its integrated approach, APA combines geological and geophysical expertise with technical innovation to identify and develop hydrocarbons in both onshore and offshore settings.

In the United States, APA’s largest position is in the Permian Basin of West Texas and southeastern New Mexico, where it holds substantial acreage dedicated to oil-focused drilling and production.