APA (NASDAQ:APA) Given New $29.00 Price Target at Citigroup

APA (NASDAQ:APA) had its target price reduced by research analysts at Citigroup from $32.00 to $29.00 in a report released on Friday. Citigroup’s price target points to a potential upside of 16.65% from the company’s current price.

APA has been the topic of several other reports. Piper Sandler dropped their price target on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays decreased their price objective on APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein decreased their price objective on APA from $37.00 to $30.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Bernstein Bank decreased their price objective on APA from $30.00 to $28.00 in a report on Friday. Finally, Wolfe Research began coverage on APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.18.

APA Stock Down 0.2 %

Shares of APA stock traded down $0.06 during trading hours on Friday, reaching $24.86. 1,418,395 shares of the stock were exchanged, compared to its average volume of 6,204,580. The business’s fifty day moving average is $26.49 and its two-hundred day moving average is $29.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. APA has a 12-month low of $22.72 and a 12-month high of $43.58. The firm has a market capitalization of $9.23 billion, a P/E ratio of 2.78 and a beta of 3.23.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm’s revenue was up 41.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. As a group, research analysts expect that APA will post 3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares in the last quarter. V Square Quantitative Management LLC increased its position in APA by 32.1% during the third quarter. V Square Quantitative Management LLC now owns 10,173 shares of the company’s stock worth $249,000 after buying an additional 2,470 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of APA by 2.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,644 shares of the company’s stock valued at $847,000 after purchasing an additional 952 shares during the last quarter. nVerses Capital LLC grew its position in shares of APA by 67.7% in the third quarter. nVerses Capital LLC now owns 27,500 shares of the company’s stock valued at $673,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in APA by 9.3% during the third quarter. Vontobel Holding Ltd. now owns 191,616 shares of the company’s stock worth $4,687,000 after buying an additional 16,230 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

APA Company Profile

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.