APA (NASDAQ:APA) Given New $45.00 Price Target at Susquehanna

APA (NASDAQ:APA) had its price objective dropped by stock analysts at Susquehanna from $47.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 26.79% from the stock’s current price.

Several other research firms have also commented on APA. JPMorgan Chase & Co. boosted their price objective on APA from $38.00 to $41.00 in a research note on Friday, May 8th. Wells Fargo & Company raised their target price on APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Zacks Research lowered APA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Evercore boosted their price target on APA from $25.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 24th. Finally, Truist Financial reduced their price objective on APA from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.35.

APA Price Performance

Shares of NASDAQ APA traded up $0.65 during trading on Tuesday, hitting $35.49. The company had a trading volume of 731,466 shares, compared to its average volume of 7,135,110. The stock has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $33.66. APA has a fifty-two week low of $17.86 and a fifty-two week high of $45.66. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 8.27 and a beta of 0.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 6th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.27. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.13 billion. APA had a net margin of 17.38% and a return on equity of 20.70%. The company’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share. On average, research analysts expect that APA will post 5 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Mark D. Maddox sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $40.04, for a total transaction of $392,392.00. Following the completion of the sale, the vice president directly owned 66,810 shares of the company’s stock, valued at approximately $2,675,072.40. This trade represents a 12.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of APA by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,300 shares of the company’s stock valued at $700,000 after buying an additional 2,070 shares during the period. NewEdge Advisors LLC increased its stake in APA by 49.6% during the first quarter. NewEdge Advisors LLC now owns 10,785 shares of the company’s stock worth $227,000 after purchasing an additional 3,578 shares during the period. Goldman Sachs Group Inc. increased its stake in APA by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,668,505 shares of the company’s stock worth $56,092,000 after purchasing an additional 806,252 shares during the period. Focus Partners Wealth lifted its position in shares of APA by 10.6% during the first quarter. Focus Partners Wealth now owns 44,833 shares of the company’s stock worth $942,000 after purchasing an additional 4,297 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of APA in the second quarter valued at approximately $5,199,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.