APA (NASDAQ:APA) Stock Price Expected to Rise, Capital One Financial Analyst Says

APA (NASDAQ:APA) had its target price raised by analysts at Capital One Financial from $50.00 to $51.00 in a report issued on Tuesday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Capital One Financial‘s price objective points to a potential upside of 39.03% from the company’s current price.

Several other research analysts have also recently commented on APA. Scotiabank increased their price target on APA from $26.00 to $36.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Morgan Stanley lifted their price target on APA from $22.00 to $43.00 and gave the stock an “underweight” rating in a report on Tuesday, April 28th. Truist Financial boosted their target price on APA from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 20th. Barclays raised shares of APA from an “underweight” rating to an “equal weight” rating and set a $35.00 price target on the stock in a report on Monday, March 23rd. Finally, Sanford C. Bernstein increased their target price on APA from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.88.

APA Stock Down 0.0%

Shares of APA stock traded down $0.02 during trading on Tuesday, reaching $36.68. The company’s stock had a trading volume of 1,065,529 shares, compared to its average volume of 7,944,590. APA has a one year low of $16.15 and a one year high of $45.66. The business has a fifty day moving average price of $37.66 and a 200-day moving average price of $29.69. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 8.56 and a beta of 0.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned $1.06 earnings per share. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. Analysts anticipate that APA will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other APA news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total value of $833,290.00. Following the completion of the sale, the director owned 6,634 shares in the company, valued at $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in APA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 acquiring an additional 2,070 shares during the period. NewEdge Advisors LLC lifted its position in shares of APA by 49.6% during the 1st quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock valued at $227,000 after acquiring an additional 3,578 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of APA by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock valued at $56,092,000 after acquiring an additional 806,252 shares during the period. Focus Partners Wealth lifted 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 purchasing an additional 4,297 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of APA during the 2nd quarter worth approximately $5,199,000. 83.01% of the stock is owned by institutional investors.

About APA

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.