APA (NASDAQ:APA) Given New $19.00 Price Target at Piper Sandler

APA (NASDAQ:APA) had its price objective cut by Piper Sandler from $22.00 to $19.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company decreased their target price on APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Scotiabank decreased their price objective on shares of APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley set a $20.00 target price on shares of APA and gave the company an “underweight” rating in a research report on Tuesday, April 15th. Finally, Susquehanna lowered their price target on shares of APA from $31.00 to $30.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $25.37.

APA Trading Up 4.2%

NASDAQ:APA opened at $18.46 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 2.61 and a beta of 1.18. APA has a 52 week low of $13.58 and a 52 week high of $33.41. The firm has a 50-day moving average price of $17.58 and a two-hundred day moving average price of $20.83.

APA (NASDAQ:APA) last released its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.17 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. APA’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities analysts expect that APA will post 4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On APA

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in APA by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,932,980 shares of the company’s stock worth $292,871,000 after purchasing an additional 1,046,893 shares in the last quarter. Invesco Ltd. grew its holdings in APA by 6.9% during the 4th quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock valued at $305,498,000 after buying an additional 850,052 shares in the last quarter. Geode Capital Management LLC increased its position in shares of APA by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock valued at $219,016,000 after buying an additional 200,770 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock worth $190,876,000 after buying an additional 2,894,543 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock worth $122,328,000 after buying an additional 1,195,212 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

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.