Evercore ISI Reiterates “In-Line” Rating for APA (NASDAQ:APA)

Evercore ISI reissued their in-line rating on shares of APA (NASDAQ:APA) in a research report released on Thursday morning, Benzinga reports. Evercore ISI currently has a $39.00 price target on the stock.

Several other research firms have also recently commented on APA. UBS Group reduced their target price on APA from $38.00 to $35.00 and set a neutral rating for the company in a research note on Tuesday, August 6th. Truist Financial increased their price objective on shares of APA from $45.00 to $46.00 and gave the company a buy rating in a research note on Friday, August 2nd. Barclays reissued an equal weight rating and issued a $35.00 target price on shares of APA in a research report on Wednesday, September 11th. Bank of America restated an underperform rating and issued a $31.00 target price on shares of APA in a research note on Friday, June 14th. Finally, Wells Fargo & Company decreased their price target on APA from $50.00 to $49.00 and set an overweight rating for the company in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $37.00.

APA Price Performance

APA opened at $23.94 on Thursday. APA has a twelve month low of $22.72 and a twelve month high of $43.58. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 2.68 and a beta of 3.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $28.71 and a 200 day simple moving average of $30.27.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s revenue was up 41.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. Equities research analysts expect that APA will post 4.34 EPS for the current fiscal year.

Institutional Trading of APA

Several large investors have recently added to or reduced their stakes in the business. American National Bank grew its stake in shares of APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares in the last quarter. Covestor Ltd grew its position in APA by 75.4% in the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares in the last quarter. Principal Securities Inc. bought a new position in APA in the 4th quarter valued at about $39,000. Whittier Trust Co. of Nevada Inc. increased its stake in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of APA during the 2nd quarter worth about $42,000. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.