Susquehanna Forecasts Strong Price Appreciation for APA (NASDAQ:APA) Stock

APA (NASDAQ:APA) had its target price hoisted by analysts at Susquehanna from $32.00 to $37.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 16.76% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley cut their price target on APA from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Friday, January 23rd. Evercore boosted their price objective on APA from $21.00 to $25.00 in a research report on Thursday, February 26th. Jefferies Financial Group raised their target price on shares of APA from $21.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, January 20th. The Goldman Sachs Group lifted their price target on shares of APA from $21.00 to $23.00 and gave the stock a “sell” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of APA in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

APA Price Performance

APA stock opened at $31.69 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.61. APA has a 52-week low of $13.58 and a 52-week high of $32.75. The firm has a market cap of $11.24 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 13.88 and a beta of 0.67. The company’s 50 day moving average is $26.42 and its two-hundred day moving average is $24.66.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.62 by $0.29. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.89 billion. APA had a net margin of 15.55% and a return on equity of 19.89%. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. On average, research analysts expect that APA will post 4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of APA. DGS Capital Management LLC purchased a new stake in APA in the fourth quarter valued at $244,000. Compound Planning Inc. grew its holdings in shares of APA by 45.5% during the fourth quarter. Compound Planning Inc. now owns 15,173 shares of the company’s stock worth $371,000 after purchasing an additional 4,744 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of APA by 212.2% during the fourth quarter. Corient Private Wealth LLC now owns 416,796 shares of the company’s stock worth $10,195,000 after purchasing an additional 283,299 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of APA by 13.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 102,471 shares of the company’s stock valued at $2,506,000 after purchasing an additional 12,211 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in APA by 12.2% during the 4th quarter. Vident Advisory LLC now owns 144,112 shares of the company’s stock worth $3,525,000 after buying an additional 15,657 shares during the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

About APA

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.