Mizuho Increases APA (NASDAQ:APA) Price Target to $32.00

APA (NASDAQ:APA) had its price target lifted by investment analysts at Mizuho from $29.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s target price points to a potential downside of 16.45% from the company’s previous close.

Several other equities analysts have also recently weighed in on APA. Wells Fargo & Company lifted their price objective on shares of APA from $21.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Benchmark lifted their price objective on shares of APA from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Evercore lifted their price objective on shares of APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Zacks Research upgraded shares of APA from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Barclays upgraded shares of APA from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, APA currently has an average rating of “Hold” and an average target price of $39.62.

APA Price Performance

NASDAQ APA opened at $38.30 on Thursday. APA has a 1 year low of $15.20 and a 1 year high of $45.66. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $13.54 billion, a P/E ratio of 9.60 and a beta of 0.38. The business’s fifty day moving average is $37.21 and its two-hundred day moving average is $29.40.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27. APA had a net margin of 15.55% and a return on equity of 19.89%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company posted $1.06 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. On average, research analysts forecast that APA will post 5.14 earnings per share for the current fiscal year.

Insider Activity at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $36.23, for a total transaction of $833,290.00. Following the transaction, the director directly owned 6,634 shares in the company, valued at $240,349.82. The trade was a 77.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APA

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in APA by 6.6% in the first 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 in the last quarter. NewEdge Advisors LLC boosted its holdings in APA by 49.6% in the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after purchasing an additional 3,578 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in APA by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares in the last quarter. Focus Partners Wealth boosted its holdings in APA by 10.6% in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in APA in the second quarter worth $5,199,000. 83.01% of the stock is currently owned by hedge funds and other 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.