APA (NASDAQ:APA) Given New $45.00 Price Target at BMO Capital Markets

APA (NASDAQ:APA) had its target price decreased by BMO Capital Markets from $47.00 to $45.00 in a report issued on Wednesday morning,MarketScreener reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Capital One Financial lifted their price objective on shares of APA from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Scotiabank lifted their price objective on APA from $26.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on APA from $21.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Stephens lifted their price objective on APA from $24.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, March 31st. Finally, Piper Sandler lifted their price objective on APA from $30.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.81.

APA Stock Performance

NASDAQ APA opened at $36.97 on Wednesday. The business’s 50-day moving average price is $37.90 and its 200 day moving average price is $29.87. APA has a 52-week low of $16.15 and a 52-week high of $45.66. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market cap of $13.07 billion, a P/E ratio of 8.62 and a beta of 0.38.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.27. APA had a net margin of 17.38% and a return on equity of 20.70%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the firm posted $1.06 EPS. APA’s quarterly revenue was down 11.7% on a year-over-year basis. On average, equities research analysts expect that APA will post 5.38 earnings per share for the current year.

Insider Activity at APA

In other news, Director Matthew Regis Bob sold 23,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $36.23, for a total transaction of $833,290.00. Following the sale, the director owned 6,634 shares of the company’s stock, valued at $240,349.82. The trade was a 77.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Institutional Investors Weigh In On APA

Several institutional investors have recently modified their holdings of APA. Goldman Sachs Group Inc. boosted its position in shares of APA by 76.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,171,963 shares of the company’s stock worth $175,426,000 after buying an additional 3,117,032 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of APA by 157.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,060,135 shares of the company’s stock worth $55,970,000 after buying an additional 1,869,891 shares in the last quarter. Morgan Stanley boosted its position in shares of APA by 21.8% in the 4th quarter. Morgan Stanley now owns 10,425,586 shares of the company’s stock worth $255,010,000 after buying an additional 1,864,900 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of APA by 13.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,030,230 shares of the company’s stock worth $340,657,000 after buying an additional 1,674,739 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of APA by 55.0% in the 1st quarter. First Trust Advisors LP now owns 4,154,301 shares of the company’s stock worth $176,309,000 after buying an additional 1,473,626 shares in the last quarter. Hedge funds and other institutional investors 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.