Raymond James Forecasts Strong Price Appreciation for APA (NASDAQ:APA) Stock

APA (NASDAQ:APA) had its price objective boosted by equities researchers at Raymond James from $44.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would suggest a potential upside of 92.97% from the stock’s current price.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price target on shares of APA in a research report on Thursday. UBS Group lowered their price target on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Susquehanna lowered their target price on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Scotiabank cut their price target on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut APA from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $42.00 to $25.00 in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.65.

APA Stock Performance

APA stock opened at $23.32 on Thursday. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 3.29 and a beta of 3.16. The firm has a 50 day moving average of $22.77 and a two-hundred day moving average of $25.35. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12 month low of $20.32 and a 12 month high of $36.04.

Insider Buying and Selling

In other news, Director Juliet S. Ellis bought 4,391 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Finance LLC lifted its stake in APA by 1.6% in the 3rd quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock valued at $765,000 after acquiring an additional 497 shares in the last quarter. UMB Bank n.a. grew its position in shares of APA by 16.9% during the 3rd quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock worth $87,000 after purchasing an additional 513 shares in the last quarter. NewEdge Advisors LLC raised its holdings in APA by 1.1% in the 2nd quarter. NewEdge Advisors LLC now owns 46,603 shares of the company’s stock valued at $1,372,000 after acquiring an additional 521 shares in the last quarter. Segment Wealth Management LLC grew its holdings in shares of APA by 1.0% during the 3rd quarter. Segment Wealth Management LLC now owns 54,367 shares of the company’s stock worth $1,330,000 after purchasing an additional 535 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

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.