Barclays Trims APA (NASDAQ:APA) Target Price to $53.00

APA (NASDAQ:APAGet Rating) had its target price lowered by Barclays from $55.00 to $53.00 in a report issued on Wednesday morning, The Fly reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on APA. Piper Sandler decreased their price target on APA from $54.00 to $47.00 and set a neutral rating on the stock in a research report on Friday, July 22nd. Stifel Nicolaus increased their price objective on APA from $51.00 to $59.00 and gave the stock a buy rating in a report on Friday, May 6th. The Goldman Sachs Group reduced their price target on APA from $52.00 to $41.00 and set a neutral rating for the company in a report on Tuesday, July 5th. Morgan Stanley reduced their price objective on APA from $56.00 to $54.00 and set an overweight rating for the company in a report on Monday, August 29th. Finally, Susquehanna Bancshares reduced their price objective on APA from $52.00 to $49.00 and set a positive rating for the company in a report on Friday, August 5th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, APA currently has a consensus rating of Moderate Buy and a consensus target price of $50.13.

APA Price Performance

NASDAQ:APA opened at $38.80 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.10 and a current ratio of 1.10. APA has a 52 week low of $18.52 and a 52 week high of $51.95. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 4.36, a P/E/G ratio of 0.16 and a beta of 3.90. The firm’s 50-day simple moving average is $35.08 and its 200 day simple moving average is $38.76.

APA (NASDAQ:APAGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $2.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.37. The firm had revenue of $3.05 billion during the quarter, compared to analyst estimates of $2.77 billion. APA had a net margin of 32.57% and a return on equity of 622.55%. As a group, sell-side analysts predict that APA will post 9.41 earnings per share for the current year.

Institutional Trading of APA

Several large investors have recently added to or reduced their stakes in APA. Clear Street Markets LLC lifted its holdings in APA by 375.2% in the second quarter. Clear Street Markets LLC now owns 708 shares of the company’s stock worth $25,000 after acquiring an additional 559 shares during the last quarter. James Investment Research Inc. increased its stake in shares of APA by 205.7% during the second quarter. James Investment Research Inc. now owns 755 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares during the period. Larson Financial Group LLC acquired a new position in shares of APA during the second quarter valued at approximately $26,000. Clearstead Advisors LLC acquired a new position in APA in the second quarter worth approximately $31,000. Finally, CX Institutional acquired a new position in APA in the second quarter worth approximately $32,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

APA Company Profile

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APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines.

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