Citigroup Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price lifted by analysts at Citigroup from $15.00 to $18.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 4.08% from the stock’s current price.

Several other brokerages also recently commented on APA. Morgan Stanley set a $20.00 target price on shares of APA and gave the stock an “underweight” rating in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Susquehanna cut their price objective on APA from $31.00 to $30.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their target price on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Piper Sandler decreased their price target on APA from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average target price of $25.53.

APA Price Performance

APA stock traded down $0.30 during mid-day trading on Monday, hitting $17.30. The stock had a trading volume of 1,470,713 shares, compared to its average volume of 6,986,433. The firm has a market capitalization of $6.25 billion, a P/E ratio of 2.44 and a beta of 1.18. APA has a 52 week low of $13.58 and a 52 week high of $33.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $17.51 and a 200 day simple moving average of $20.69.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. As a group, research analysts forecast that APA will post 4.03 EPS for the current year.

Institutional Trading of APA

Several large investors have recently modified their holdings of the business. ProShare Advisors LLC raised its holdings in APA by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 113,913 shares of the company’s stock worth $2,630,000 after acquiring an additional 449 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of APA by 0.6% in the fourth quarter. Van ECK Associates Corp now owns 77,110 shares of the company’s stock worth $1,780,000 after acquiring an additional 469 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of APA by 1.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 46,063 shares of the company’s stock worth $1,018,000 after acquiring an additional 517 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of APA by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 138,991 shares of the company’s stock valued at $3,070,000 after purchasing an additional 544 shares during the last quarter. Finally, Segment Wealth Management LLC boosted its holdings in shares of APA by 1.1% during the 4th quarter. Segment Wealth Management LLC now owns 54,938 shares of the company’s stock valued at $1,269,000 after purchasing an additional 571 shares during the last quarter. 83.01% of the stock is 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.