Wells Fargo & Company Lowers APA (NASDAQ:APA) Price Target to $47.00

APA (NASDAQ:APA) had its price target cut by analysts at Wells Fargo & Company from $49.00 to $47.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 82.45% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler dropped their price objective on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. decreased their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, September 12th. Mizuho decreased their target price on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research report on Monday, September 16th. Susquehanna decreased their target price on shares of APA from $57.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America restated an “underperform” rating and set a $31.00 target price on shares of APA in a research report on Friday, June 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, APA has an average rating of “Hold” and an average target price of $35.43.

APA Price Performance

Shares of APA opened at $25.76 on Tuesday. The firm has a market capitalization of $9.56 billion, a PE ratio of 2.88 and a beta of 3.24. 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 1-year low of $22.72 and a 1-year high of $43.58. The company’s fifty day moving average price is $27.24 and its 200-day moving average price is $29.72.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The firm 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 business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, equities research analysts predict that APA will post 4.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of APA. Dimensional Fund Advisors LP raised its position in shares of APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Harris Associates L P raised its position in shares of APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after acquiring an additional 1,938,335 shares in the last quarter. Finally, Webs Creek Capital Management LP purchased a new stake in APA during the 1st quarter valued at about $28,593,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.