APA (NASDAQ:APA) Price Target Increased to $46.00 by Analysts at Truist Financial

APA (NASDAQ:APA) had its price target boosted by equities researchers at Truist Financial from $45.00 to $46.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 48.01% from the company’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price target on APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America restated an “underperform” rating and issued a $31.00 price target on shares of APA in a research report on Friday, June 14th. Evercore ISI lowered shares of APA from an “outperform” rating to an “inline” rating and decreased their price target for the company from $52.00 to $39.00 in a report on Friday, June 14th. Scotiabank dropped their price objective on shares of APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 target price on shares of APA in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.91.

APA Price Performance

APA opened at $31.08 on Friday. The company has a market capitalization of $11.54 billion, a P/E ratio of 3.48 and a beta of 3.26. The company has a 50-day moving average of $29.70 and a 200-day moving average of $31.00. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. APA has a 1-year low of $27.17 and a 1-year high of $46.15.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a return on equity of 45.49% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. APA’s quarterly revenue was up 41.6% on a year-over-year basis. Equities analysts expect that APA will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

Several hedge funds have recently modified their holdings of APA. Fifth Third Bancorp boosted its position in shares of APA by 6.1% during the 4th quarter. Fifth Third Bancorp now owns 14,119 shares of the company’s stock valued at $507,000 after purchasing an additional 810 shares in the last quarter. Asset Management One Co. Ltd. grew its position in APA by 3.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 124,336 shares of the company’s stock worth $4,488,000 after buying an additional 3,811 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of APA in the fourth quarter valued at $11,050,000. New York State Teachers Retirement System lifted its position in shares of APA by 3.8% during the 4th quarter. New York State Teachers Retirement System now owns 326,615 shares of the company’s stock valued at $11,719,000 after acquiring an additional 11,964 shares during the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in APA by 4.9% in the fourth quarter. Stratos Wealth Advisors LLC now owns 24,833 shares of the company’s stock valued at $891,000 after purchasing an additional 1,159 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.