APA (NASDAQ:APA) Given New $36.00 Price Target at Truist Financial

APA (NASDAQ:APA) had its price target increased by stock analysts at Truist Financial from $34.00 to $36.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 36.88% from the company’s previous close.

APA has been the subject of a number of other reports. Wolfe Research assumed coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective for the company. Piper Sandler lowered their price target on shares of APA from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group reduced their price objective on APA from $30.00 to $26.00 and set a “sell” rating on the stock in a research note on Monday. Mizuho decreased their price objective on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company dropped their target price on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.05.

APA Price Performance

NASDAQ APA traded up $0.04 during trading hours on Wednesday, hitting $26.30. The company had a trading volume of 1,583,406 shares, compared to its average volume of 6,261,878. The firm has a 50 day simple moving average of $26.88 and a 200 day simple moving average of $29.51. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 2.94 and a beta of 3.23. APA has a 52 week low of $22.72 and a 52 week high of $43.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Equities research analysts expect that APA will post 4.04 earnings per share for the current year.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sunpointe LLC grew its holdings in APA by 2.8% in the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock worth $391,000 after purchasing an additional 362 shares during the period. GAMMA Investing LLC grew its stake in shares of APA by 12.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after buying an additional 380 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after buying an additional 429 shares in the last quarter. UMB Bank n.a. raised its stake in APA by 18.1% during the first quarter. UMB Bank n.a. now owns 2,865 shares of the company’s stock valued at $98,000 after buying an additional 439 shares during the last quarter. Finally, Inspire Investing LLC boosted its holdings in APA by 3.7% in the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after acquiring an additional 457 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

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.