APA (NASDAQ:APA) Stock Price Expected to Rise, UBS Group Analyst Says

APA (NASDAQ:APA) had its price target increased by analysts at UBS Group from $25.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 6.74% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of APA from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, October 10th. The Goldman Sachs Group upgraded shares of APA from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Mizuho raised their price target on shares of APA from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, October 16th. Piper Sandler lifted their price objective on shares of APA from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Finally, Stephens upped their target price on APA from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday. Three 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.17.

APA Trading Up 2.2%

APA traded up $0.53 on Monday, reaching $24.36. 3,447,523 shares of the company traded hands, compared to its average volume of 7,816,235. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.71 billion, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 6.28 and a beta of 1.12. The firm has a fifty day simple moving average of $23.39 and a two-hundred day simple moving average of $20.42. APA has a one year low of $13.58 and a one year high of $25.83.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.19. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. APA had a net margin of 10.53% and a return on equity of 20.98%. The company’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, equities research analysts expect that APA will post 4.03 earnings per share for the current year.

Institutional Trading of APA

Hedge funds have recently modified their holdings of the stock. Legacy Financial Advisors Inc. raised its position in APA by 8.5% during the third quarter. Legacy Financial Advisors Inc. now owns 24,939 shares of the company’s stock valued at $606,000 after acquiring an additional 1,964 shares in the last quarter. Semanteon Capital Management LP acquired a new stake in shares of APA during the 3rd quarter worth approximately $572,000. Hillsdale Investment Management Inc. purchased a new position in shares of APA during the 3rd quarter valued at approximately $1,070,000. NewEdge Wealth LLC purchased a new position in shares of APA during the 3rd quarter valued at approximately $639,000. Finally, Syon Capital LLC acquired a new position in shares of APA in the 3rd quarter valued at $255,000. Hedge funds and other institutional investors 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.