Wolfe Research Cuts APA (NASDAQ:APA) Price Target to $36.00

APA (NASDAQ:APA) had its target price dropped by equities researchers at Wolfe Research from $37.00 to $36.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. Wolfe Research’s target price would indicate a potential upside of 47.12% from the stock’s current price.

Several other brokerages have also recently commented on APA. Scotiabank upped their target price on shares of APA from $22.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and issued a $31.00 price objective on shares of APA in a research report on Monday, November 24th. The Goldman Sachs Group upped their price objective on APA from $19.00 to $21.00 and gave the stock a “sell” rating in a research note on Thursday, November 20th. William Blair began coverage on APA in a research note on Wednesday, November 26th. They issued an “outperform” rating and a $32.00 price objective on the stock. Finally, Citigroup lifted their price target on shares of APA from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Six analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.64.

APA Stock Performance

Shares of APA opened at $24.47 on Monday. APA has a 52-week low of $13.58 and a 52-week high of $27.72. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $8.68 billion, a PE ratio of 5.88, a P/E/G ratio of 10.23 and a beta of 0.74. The firm has a 50-day moving average price of $24.47 and a 200 day moving average price of $22.50.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, November 5th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.74 by $0.19. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. APA had a return on equity of 19.86% and a net margin of 15.49%.APA’s revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. On average, sell-side analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of APA

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in APA by 157.1% during the second quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after purchasing an additional 1,869,891 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in APA by 13.6% in the third quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock worth $340,657,000 after buying an additional 1,674,739 shares in the last quarter. Northern Trust Corp grew its position in APA by 29.6% during the third quarter. Northern Trust Corp now owns 4,462,476 shares of the company’s stock valued at $108,349,000 after acquiring an additional 1,018,326 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of APA by 7,627.3% in the third quarter. Evergreen Capital Management LLC now owns 1,013,516 shares of the company’s stock worth $24,608,000 after buying an additional 1,000,400 shares during the period. Finally, SG Americas Securities LLC boosted its position in APA by 160.5% during the 3rd quarter. SG Americas Securities LLC now owns 336,277 shares of the company’s stock valued at $8,165,000 after buying an additional 892,438 shares during the period. 83.01% of the stock is owned by institutional investors.

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.