APA’s (APA) “In-Line” Rating Reaffirmed at Evercore ISI

APA (NASDAQ:APA)‘s stock had its “in-line” rating reissued by equities research analysts at Evercore ISI in a report released on Thursday, Benzinga reports. They presently have a $39.00 price objective on the stock. Evercore ISI’s price target suggests a potential upside of 65.18% from the stock’s current price.

APA has been the topic of several other reports. Barclays reiterated an “equal weight” rating and set a $35.00 price target on shares of APA in a research note on Wednesday. Piper Sandler cut their target price on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Bank of America reiterated an “underperform” rating and set a $31.00 price target on shares of APA in a research note on Friday, June 14th. Scotiabank dropped their target price on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Citigroup decreased their price target on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $37.62.

APA Stock Down 1.0 %

APA stock opened at $23.61 on Thursday. The stock has a market cap of $8.73 billion, a PE ratio of 2.64 and a beta of 3.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average is $28.92 and its two-hundred day moving average is $30.35. APA has a 1-year low of $22.72 and a 1-year high of $44.37.

APA (NASDAQ:APA) last posted its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. On average, sell-side analysts expect that APA will post 4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of APA in the second quarter valued at approximately $308,000. Teachers Retirement System of The State of Kentucky increased its position in APA by 12.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after buying an additional 100,160 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of APA by 160.1% in the second quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock worth $2,225,000 after acquiring an additional 46,535 shares during the last quarter. IMS Capital Management purchased a new stake in shares of APA in the second quarter valued at $318,000. Finally, Truist Financial Corp boosted its stake in shares of APA by 44.0% during the second quarter. Truist Financial Corp now owns 38,710 shares of the company’s stock valued at $1,140,000 after acquiring an additional 11,827 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.