APA (NASDAQ:APA – Get Free Report) had its target price lifted by investment analysts at Raymond James Financial from $31.00 to $45.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target points to a potential upside of 5.14% from the stock’s current price.
A number of other research analysts have also recently issued reports on the company. Evercore lifted their price objective on APA from $25.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday. Susquehanna increased their target price on APA from $32.00 to $37.00 and gave the stock a “positive” rating in a research note on Tuesday, March 3rd. Capital One Financial lifted their price target on APA from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 11th. Johnson Rice upgraded shares of APA from a “hold” rating to an “accumulate” rating and upped their price target for the stock from $35.00 to $40.00 in a research note on Thursday, December 4th. Finally, Benchmark increased their price objective on shares of APA from $33.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Seven research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, APA has a consensus rating of “Hold” and an average price target of $32.96.
Read Our Latest Stock Report on APA
APA Price Performance
APA (NASDAQ:APA – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29. APA had a net margin of 15.55% and a return on equity of 19.89%. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $0.79 earnings per share. The business’s revenue was down 26.6% on a year-over-year basis. Analysts anticipate that APA will post 4.03 earnings per share for the current fiscal year.
Insider Activity
In other 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 transaction, the director directly owned 6,634 shares of the company’s stock, valued at $240,349.82. This represents a 77.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.
Hedge Funds Weigh In On APA
Hedge funds have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators boosted its holdings in shares of APA by 276.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock valued at $29,000 after acquiring an additional 891 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of APA by 115.1% during the fourth quarter. Summit Securities Group LLC now owns 1,327 shares of the company’s stock valued at $32,000 after purchasing an additional 710 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in APA during the third quarter valued at approximately $34,000. Spire Wealth Management boosted its holdings in APA by 179.6% in the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after purchasing an additional 977 shares during the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in APA in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 83.01% of the company’s stock.
More APA News
Here are the key news stories impacting APA this week:
- Positive Sentiment: Capital One raised its price target on APA to $51 and kept an “overweight” rating — the new target implies meaningful upside from recent levels. Capital One adjusts price target on APA to $51 from $32; maintains overweight rating
- Positive Sentiment: Raymond James raised its target to $45 and kept an “outperform” rating, supporting near-term upside momentum. Raymond James adjusts price target on APA to $45 from $31; maintains outperform rating
- Positive Sentiment: Goldman Sachs commentary signaled expectations of a price rise, adding to bullish analyst tone supporting the rally. APA (NASDAQ:APA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says
- Positive Sentiment: Operational news: APA reported a new gas discovery in Egypt that could accelerate production, reduce unit costs and support Egypt’s effort to cut imports — a clear fundamental positive. APA’s New Gas Discovery Strengthens Egypt’s Energy Outlook
- Positive Sentiment: APA hit a new 52-week high after analyst upgrades, reflecting strong market reaction to the above analyst and operational developments. APA (NASDAQ:APA) Sets New 52-Week High After Analyst Upgrade
- Neutral Sentiment: Barclays moved APA to Equal Weight — a mild vote of confidence but less incremental than the price-target raises. Barclays Upgrades APA to Equal Weight
- Neutral Sentiment: Truist initiated coverage with a Hold, which is neutral-to-slightly-cautious relative to the other bullish notes. Truist Financial Initiates Coverage on APA
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.
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