APA (NASDAQ:APA) Price Target Raised to $29.00 at Royal Bank Of Canada

APA (NASDAQ:APA) had its target price raised by stock analysts at Royal Bank Of Canada from $26.00 to $29.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential downside of 6.99% from the stock’s previous close.

Several other equities research analysts have also recently commented on APA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of APA in a report on Monday, December 29th. TD Cowen upgraded APA to a “hold” rating in a report on Monday, February 9th. Barclays set a $24.00 target price on APA in a research note on Wednesday, January 21st. BMO Capital Markets lifted their price target on APA from $30.00 to $35.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Evercore upped their price objective on shares of APA from $21.00 to $25.00 in a report on Thursday, February 26th. Seven research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, APA presently has a consensus rating of “Hold” and a consensus price target of $28.43.

APA Stock Performance

NASDAQ:APA opened at $31.18 on Thursday. The company has a market cap of $11.01 billion, a P/E ratio of 7.81, a P/E/G ratio of 15.48 and a beta of 0.67. APA has a twelve month low of $13.58 and a twelve month high of $32.78. The company’s 50-day moving average price is $26.71 and its 200-day moving average price is $24.79. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61.

APA (NASDAQ:APA) last announced its quarterly earnings data 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 company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $0.79 EPS. APA’s revenue was down 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that APA will post 4.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. boosted its position in shares of APA by 1.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 28,171 shares of the company’s stock worth $689,000 after purchasing an additional 396 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in APA by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,648 shares of the company’s stock worth $358,000 after purchasing an additional 461 shares in the last quarter. Howard Capital Management Inc. boosted its position in shares of APA by 0.5% during the third quarter. Howard Capital Management Inc. now owns 94,848 shares of the company’s stock worth $2,303,000 after buying an additional 485 shares during the period. one8zero8 LLC boosted its position in shares of APA by 1.2% during the third quarter. one8zero8 LLC now owns 42,254 shares of the company’s stock worth $1,026,000 after buying an additional 488 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of APA by 0.5% in the third quarter. Arizona State Retirement System now owns 106,734 shares of the company’s stock valued at $2,592,000 after buying an additional 517 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

APA Company Profile

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.