Susquehanna Increases APA (NASDAQ:APA) Price Target to $57.00

APA (NASDAQ:APA) had its price objective raised by equities research analysts at Susquehanna from $54.00 to $57.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 86.82% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of APA in a research report on Monday, April 8th. Morgan Stanley reissued an “underweight” rating and issued a $28.00 price target on shares of APA in a research report on Monday, April 15th. Mizuho decreased their price target on shares of APA from $34.00 to $32.00 and set an “underperform” rating for the company in a research report on Thursday, May 2nd. Raymond James decreased their price target on shares of APA from $44.00 to $43.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company began coverage on shares of APA in a research report on Wednesday, April 24th. They issued an “overweight” rating and a $55.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.20.

APA Stock Performance

NASDAQ:APA opened at $30.51 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $9.19 billion, a P/E ratio of 3.41 and a beta of 3.29. The company has a 50 day moving average price of $32.54 and a 200 day moving average price of $33.80. APA has a fifty-two week low of $28.90 and a fifty-two week high of $46.15.

APA (NASDAQ:APA) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.19 EPS. Equities research analysts forecast that APA will post 5.03 EPS for the current year.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently bought and sold shares of APA. Commonwealth Equity Services LLC raised its stake in APA by 16.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 64,406 shares of the company’s stock worth $2,647,000 after acquiring an additional 9,001 shares in the last quarter. Brown Advisory Inc. acquired a new position in APA in the third quarter valued at $222,000. Mackenzie Financial Corp increased its stake in APA by 1.7% in the third quarter. Mackenzie Financial Corp now owns 43,193 shares of the company’s stock valued at $1,713,000 after purchasing an additional 725 shares during the period. Advisor Partners II LLC increased its stake in APA by 4.3% in the third quarter. Advisor Partners II LLC now owns 56,415 shares of the company’s stock valued at $2,319,000 after purchasing an additional 2,341 shares during the period. Finally, TD Asset Management Inc increased its stake in APA by 13.9% in the third quarter. TD Asset Management Inc now owns 853,257 shares of the company’s stock valued at $35,069,000 after purchasing an additional 103,846 shares during the period. 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.