APA (NASDAQ:APA) Given New $51.00 Price Target at Capital One Financial

APA (NASDAQ:APA) had its price objective boosted by equities research analysts at Capital One Financial from $32.00 to $51.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has an “overweight” rating on the stock. Capital One Financial‘s target price suggests a potential upside of 20.64% from the company’s current price.

A number of other equities research analysts have also commented on the stock. Barclays raised shares of APA from an “underweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock in a report on Monday. Zacks Research raised shares of APA from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. William Blair started coverage on shares of APA in a research note on Wednesday, November 26th. They set an “outperform” rating and a $32.00 price target on the stock. TD Cowen raised shares of APA to a “hold” rating in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of APA from $29.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. Seven research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.96.

APA Price Performance

APA stock opened at $42.27 on Wednesday. The business’s fifty day moving average is $29.99 and its two-hundred day moving average is $26.21. 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 firm has a market cap of $14.93 billion, a P/E ratio of 10.59 and a beta of 0.67. APA has a 52 week low of $13.58 and a 52 week high of $41.81.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. APA had a return on equity of 19.89% and a net margin of 15.55%.The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. Equities research analysts forecast that APA will post 4.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Matthew Regis Bob sold 23,000 shares of APA stock in a transaction that occurred 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 completion of the sale, the director owned 6,634 shares in the company, valued at $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On APA

Large investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators boosted its position in shares of APA by 276.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. Summit Securities Group LLC increased its position in shares of APA by 115.1% in the 4th quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after buying an additional 710 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in APA during the 3rd quarter worth $34,000. Camelot Portfolios LLC bought a new position in APA during the fourth quarter worth about $37,000. Finally, Spire Wealth Management lifted its holdings in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after acquiring an additional 977 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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.