APA (NASDAQ:APA) Sets New 1-Year Low at $24.99

Shares of APA Co. (NASDAQ:APA) hit a new 52-week low during trading on Monday . The stock traded as low as $24.99 and last traded at $25.00, with a volume of 445598 shares trading hands. The stock had previously closed at $25.24.

Analysts Set New Price Targets

Several brokerages have commented on APA. Scotiabank lowered their price target on APA from $37.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Citigroup lowered their price target on APA from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research note on Thursday. Wolfe Research assumed coverage on shares of APA in a research note on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Piper Sandler decreased their price target on shares of APA from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, APA has a consensus rating of “Hold” and a consensus target price of $37.81.

APA Stock Performance

The firm has a fifty day simple moving average of $29.24 and a 200-day simple moving average of $30.48. 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 stock has a market cap of $9.23 billion, a price-to-earnings ratio of 2.82 and a beta of 3.24.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. Analysts forecast that APA Co. will post 4.36 EPS for the current fiscal year.

Institutional Trading of APA

Large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in APA during the 2nd quarter worth about $308,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of APA by 12.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock worth $26,758,000 after buying an additional 100,160 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of APA by 160.1% during the 2nd quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock worth $2,225,000 after buying an additional 46,535 shares during the last quarter. IMS Capital Management acquired a new position in shares of APA during the 2nd quarter worth about $318,000. Finally, Truist Financial Corp boosted its stake in shares of APA by 44.0% during the 2nd quarter. Truist Financial Corp now owns 38,710 shares of the company’s stock worth $1,140,000 after buying an additional 11,827 shares during the last quarter. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

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.