APA (NASDAQ:APA) Stock Price Expected to Rise, Wolfe Research Analyst Says

APA (NASDAQ:APA) had its target price hoisted by Wolfe Research from $35.00 to $37.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price target would indicate a potential upside of 63.86% from the stock’s current price.

Several other research analysts have also recently commented on APA. Raymond James Financial restated an “outperform” rating and issued a $28.00 target price (up previously from $26.00) on shares of APA in a research report on Wednesday, September 10th. Cfra Research upgraded shares of APA to a “hold” rating in a report on Friday, August 8th. Barclays increased their target price on shares of APA from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, August 8th. UBS Group increased their target price on shares of APA from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada increased their target price on shares of APA from $23.00 to $24.00 and gave the company a “sector perform” rating in a research note on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.74.

APA Price Performance

Shares of NASDAQ:APA opened at $22.58 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.62. APA has a fifty-two week low of $13.58 and a fifty-two week high of $25.83. The firm has a 50-day simple moving average of $22.98 and a 200 day simple moving average of $19.67. The company has a market cap of $8.08 billion, a PE ratio of 7.55, a P/E/G ratio of 6.38 and a beta of 1.16.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.42. APA had a net margin of 10.53% and a return on equity of 20.98%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Several hedge funds have recently made changes to their positions in APA. Dimensional Fund Advisors LP lifted its position in shares of APA by 46.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after acquiring an additional 2,894,543 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock valued at $55,970,000 after acquiring an additional 1,869,891 shares in the last quarter. Nuveen LLC purchased a new stake in shares of APA in the 1st quarter valued at approximately $22,533,000. Charles Schwab Investment Management Inc. increased its stake in APA by 8.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock valued at $292,871,000 after buying an additional 1,046,893 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in APA by 2.9% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 36,439,749 shares of the company’s stock valued at $765,964,000 after buying an additional 1,029,961 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About APA

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.