Citigroup Trims APA (NASDAQ:APA) Target Price to $32.00

APA (NASDAQ:APA) had its price target cut by Citigroup from $33.00 to $32.00 in a report published on Monday. They currently have a neutral rating on the stock.

A number of other equities analysts also recently issued reports on APA. Truist Financial upped their price target on APA from $45.00 to $46.00 and gave the company a buy rating in a report on Friday, August 2nd. Piper Sandler lowered their target price on shares of APA from $34.00 to $29.00 and set a neutral rating for the company in a report on Thursday, August 15th. Sanford C. Bernstein cut their price target on shares of APA from $37.00 to $30.00 and set a market perform rating on the stock in a research note on Wednesday, July 17th. Evercore ISI downgraded shares of APA from an outperform rating to an inline rating and decreased their price objective for the company from $52.00 to $39.00 in a research note on Friday, June 14th. Finally, UBS Group dropped their price objective on APA from $38.00 to $35.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $37.00.

APA Price Performance

Shares of APA opened at $23.70 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $28.81 and its 200-day simple moving average is $30.31. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of 2.65 and a beta of 3.24. APA has a twelve month low of $22.72 and a twelve month high of $44.37.

APA (NASDAQ:APA) last announced 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 during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. APA’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts forecast that APA will post 4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in APA by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after buying an additional 1,938,335 shares in the last quarter. Harris Associates L P grew its holdings in APA by 17.8% during the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares during the period. Dimensional Fund Advisors LP raised its position in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after acquiring an additional 2,736,041 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after acquiring an additional 455,312 shares during the period. 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.