APA (NASDAQ:APA) Earns Equal Weight Rating from Stephens

APA (NASDAQ:APA)‘s stock had its “equal weight” rating reaffirmed by research analysts at Stephens in a report issued on Friday, Benzinga reports. They presently have a $49.00 target price on the stock. Stephens’ price target points to a potential upside of 5.96% from the company’s current price.

A number of other analysts also recently issued reports on APA. Seaport Research Partners started coverage on APA in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Barclays reduced their target price on shares of APA from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, August 17th. KeyCorp set a $46.00 target price on shares of APA in a report on Wednesday, August 12th. Wall Street Zen raised shares of APA from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Argus upgraded shares of APA from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, APA has an average rating of “Hold” and an average price target of $43.21.

APA Price Performance

APA stock traded up $0.78 during midday trading on Friday, reaching $46.25. 251,192 shares of the stock traded hands, compared to its average volume of 6,695,751. The stock has a market cap of $16.20 billion, a P/E ratio of 9.76, a PEG ratio of 0.75 and a beta of 0.42. APA has a 12 month low of $21.63 and a 12 month high of $47.44. The stock’s fifty day moving average is $42.40 and its 200-day moving average is $38.98. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.47.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.01). The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.46 billion. APA had a net margin of 19.48% and a return on equity of 24.84%. During the same period in the previous year, the business earned $0.87 earnings per share. As a group, equities research analysts anticipate that APA will post 5.8 EPS for the current year.

APA declared that its board has approved a stock buyback program on Wednesday, September 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On APA

A number of hedge funds have recently added to or reduced their stakes in APA. Hollencrest Capital Management boosted its holdings in shares of APA by 520.8% in the first quarter. Hollencrest Capital Management now owns 596 shares of the company’s stock valued at $25,000 after purchasing an additional 500 shares during the period. Cedar Mountain Advisors LLC purchased a new position in APA during the 1st quarter worth $28,000. Compass Financial Management LLC bought a new stake in APA during the 2nd quarter valued at $33,000. MidFirst Bank bought a new stake in APA during the 2nd quarter valued at $33,000. Finally, Global Assets Advisory LLC purchased a new stake in shares of APA in the 1st quarter worth $44,000. 83.01% of the stock is currently owned by institutional investors.

APA Company Profile

APA Corporation (NASDAQ:APA) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids. The company’s activities include identifying prospective resources, drilling and completing wells, and managing producing assets across multiple international markets.

APA’s operations have historically been concentrated in the Permian Basin of the United States and in Egypt’s Western Desert, where it participates in exploration and production activities through joint ventures.