BMO Capital Markets Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price lifted by research analysts at BMO Capital Markets from $35.00 to $47.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 25.94% from the company’s previous close.

A number of other equities analysts have also weighed in on APA. Piper Sandler upped their target price on APA from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of APA in a report on Monday, December 29th. Truist Financial started coverage on APA in a report on Tuesday, March 24th. They set a “hold” rating and a $38.00 price target for the company. Wolfe Research upped their price target on APA from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Evercore upped their price target on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, March 24th. Seven equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, APA has an average rating of “Hold” and a consensus price target of $36.54.

APA Price Performance

Shares of NASDAQ:APA opened at $37.32 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. APA has a twelve month low of $13.58 and a twelve month high of $45.66. The stock’s 50 day moving average is $33.05 and its 200-day moving average is $27.47. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 9.35 and a beta of 0.49.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm earned $0.79 earnings per share. APA’s revenue for the quarter was down 26.6% on a year-over-year basis. Sell-side analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Insider Transactions at APA

In related news, Director Matthew Regis Bob sold 23,000 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was 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 approximately $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. grew its stake in APA by 0.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 106,667 shares of the company’s stock valued at $2,609,000 after purchasing an additional 375 shares during the period. Corient Private Wealth LLC grew its stake in APA by 39.2% in the 4th quarter. Corient Private Wealth LLC now owns 185,873 shares of the company’s stock valued at $4,547,000 after purchasing an additional 52,376 shares during the period. DGS Capital Management LLC bought a new position in APA in the 4th quarter valued at $244,000. Compound Planning Inc. grew its stake in APA by 45.5% in the 4th quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock valued at $371,000 after purchasing an additional 4,744 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in APA by 13.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after purchasing an additional 12,211 shares during the period. Institutional investors own 83.01% of the company’s stock.

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.