APA (NASDAQ:APA – Get Free Report) had its price target reduced by stock analysts at Wells Fargo & Company from $23.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential downside of 3.75% from the stock’s current price.
A number of other equities analysts also recently commented on the company. Scotiabank decreased their price target on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Mizuho reduced their target price on APA from $20.00 to $19.00 and set an “underperform” rating on the stock in a report on Tuesday, May 13th. Barclays lowered their price target on APA from $25.00 to $19.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price target on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup raised their price objective on APA from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $24.72.
View Our Latest Stock Analysis on APA
APA Stock Up 1.4%
APA (NASDAQ:APA – Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.83 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.17 billion. APA had a return on equity of 23.22% and a net margin of 9.75%. The business’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. As a group, equities analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of APA by 46.8% during the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after buying an additional 2,894,543 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in APA in the 4th quarter valued at approximately $30,767,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in APA by 29.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock valued at $122,328,000 after acquiring an additional 1,195,212 shares in the last quarter. Nuveen LLC acquired a new position in APA during the 1st quarter worth $22,533,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of APA by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after purchasing an additional 1,046,893 shares in the last quarter. 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.
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