APA (NASDAQ:APA) Price Target Lowered to $48.00 at Susquehanna

APA (NASDAQ:APA) had its price objective reduced by investment analysts at Susquehanna from $52.00 to $48.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 92.62% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Evercore ISI dropped their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Scotiabank cut their price target on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Citigroup cut their target price on APA from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus target price of $34.67.

APA Stock Performance

NASDAQ:APA opened at $24.92 on Friday. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The business’s fifty day moving average is $26.49 and its 200 day moving average is $29.18. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 2.79 and a beta of 3.23.

APA (NASDAQ:APA) last announced its earnings results 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 business 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%. APA’s quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. Research analysts predict that APA will post 3.97 EPS for the current year.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in APA. Vanguard Group Inc. increased its holdings in shares of APA by 4.7% in 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 in the last quarter. Mutual of America Capital Management LLC raised its position in APA by 18.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock worth $1,673,000 after buying an additional 7,580 shares during the last quarter. Ellis Investment Partners LLC purchased a new stake in shares of APA during the 2nd quarter valued at about $2,499,000. AQR Capital Management LLC raised its holdings in shares of APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after purchasing an additional 767,557 shares during the last quarter. Finally, Woodstock Corp lifted its position in APA by 20.3% during the third quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after purchasing an additional 51,993 shares during the period. Institutional investors own 83.01% of the company’s stock.

About APA

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.