APA (NASDAQ:APA) Now Covered by Analysts at Wells Fargo & Company

Investment analysts at Wells Fargo & Company started coverage on shares of APA (NASDAQ:APA) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $55.00 price target on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 69.96% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of APA from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com raised APA from a “hold” rating to a “buy” rating in a report on Tuesday. The Goldman Sachs Group reduced their target price on APA from $35.00 to $31.00 and set a “sell” rating for the company in a report on Tuesday, March 26th. Barclays assumed coverage on APA in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $40.00 target price for the company. Finally, Truist Financial dropped their price objective on APA from $59.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.25.

APA Price Performance

Shares of NASDAQ:APA opened at $32.36 on Wednesday. The firm has a 50 day simple moving average of $32.53 and a 200 day simple moving average of $34.50. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 3.49 and a beta of 3.27. APA has a one year low of $29.47 and a one year high of $46.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.02 and a quick ratio of 1.02.

APA (NASDAQ:APA) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.18). APA had a net margin of 34.95% and a return on equity of 62.64%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the business posted $1.48 EPS. APA’s revenue was down 12.3% on a year-over-year basis. Research analysts predict that APA will post 5.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC bought a new position in APA in the third quarter valued at $256,000. Daiwa Securities Group Inc. increased its stake in APA by 28.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,246 shares of the company’s stock valued at $1,193,000 after acquiring an additional 7,461 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in APA by 3.2% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,237,787 shares of the company’s stock valued at $44,412,000 after acquiring an additional 38,505 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of APA by 14.3% during the fourth quarter. AustralianSuper Pty Ltd now owns 726,126 shares of the company’s stock valued at $26,053,000 after buying an additional 90,610 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of APA by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,531,313 shares of the company’s stock valued at $104,037,000 after buying an additional 24,182 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

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.