UBS Group Lowers APA (NASDAQ:APA) Price Target to $35.00

APA (NASDAQ:APA) had its price target dropped by investment analysts at UBS Group from $38.00 to $35.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 29.53% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. Sanford C. Bernstein dropped their target price on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler increased their price objective on shares of APA from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Barclays lowered their target price on shares of APA from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Bank of America reiterated an “underperform” rating and issued a $31.00 price target on shares of APA in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $38.64.

APA Price Performance

APA opened at $27.02 on Tuesday. APA has a twelve month low of $26.81 and a twelve month high of $46.15. The company has a current ratio of 1.01, a quick ratio of 1.16 and a debt-to-equity ratio of 1.04. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of 3.02 and a beta of 3.26. The company has a fifty day simple moving average of $29.55 and a 200 day simple moving average of $30.90.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 EPS. Equities research analysts expect that APA will post 4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

A number of institutional investors and hedge funds have recently modified their holdings of APA. Asset Management One Co. Ltd. increased its position in shares of APA by 3.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 124,336 shares of the company’s stock valued at $4,488,000 after purchasing an additional 3,811 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of APA in the 4th quarter worth approximately $11,050,000. New York State Teachers Retirement System boosted its position in shares of APA by 3.8% during the fourth quarter. New York State Teachers Retirement System now owns 326,615 shares of the company’s stock valued at $11,719,000 after purchasing an additional 11,964 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in APA by 65.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 111,717 shares of the company’s stock valued at $4,001,000 after buying an additional 44,288 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in APA by 2.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 97,725 shares of the company’s stock valued at $3,506,000 after buying an additional 2,228 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.

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.