Jefferies Financial Group Issues Positive Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target hoisted by analysts at Jefferies Financial Group from $21.00 to $22.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s target price suggests a potential downside of 16.03% from the stock’s current price.

APA has been the topic of several other reports. Johnson Rice upgraded APA from a “hold” rating to an “accumulate” rating and raised their price objective for the company from $35.00 to $40.00 in a research note on Thursday, December 4th. Wolfe Research reissued an “outperform” rating and set a $35.00 price target on shares of APA in a research report on Wednesday. Roth Capital upped their price objective on shares of APA from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Mizuho boosted their target price on APA from $20.00 to $22.00 and gave the stock an “underperform” rating in a research note on Friday, December 12th. Finally, Royal Bank Of Canada lifted their price target on APA from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.35.

APA Trading Up 3.4%

NASDAQ:APA opened at $26.20 on Tuesday. APA has a 12 month low of $13.58 and a 12 month high of $27.72. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 10.75 and a beta of 0.74. The firm has a fifty day simple moving average of $24.97 and a two-hundred day simple moving average of $23.00.

APA (NASDAQ:APA) last issued its earnings results on Wednesday, November 5th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.06 billion. APA had a return on equity of 19.86% and a net margin of 15.49%.APA’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. Analysts expect that APA will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Several institutional investors have recently added to or reduced their stakes in APA. Deseret Mutual Benefit Administrators increased its stake in shares of APA by 276.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,213 shares of the company’s stock worth $29,000 after purchasing an additional 891 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in APA by 144.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 1,866 shares of the company’s stock worth $34,000 after purchasing an additional 1,104 shares in the last quarter. CVA Family Office LLC grew its stake in APA by 6,096.7% during the second quarter. CVA Family Office LLC now owns 1,859 shares of the company’s stock valued at $34,000 after acquiring an additional 1,829 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in APA in the 3rd quarter valued at $34,000. Finally, Spire Wealth Management grew its position in APA by 179.6% during the third quarter. Spire Wealth Management now owns 1,521 shares of the company’s stock worth $37,000 after buying an additional 977 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.