Wells Fargo & Company Lowers APA (NASDAQ:APA) Price Target to $47.00

APA (NASDAQ:APA) had its target price cut by investment analysts at Wells Fargo & Company from $49.00 to $47.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 82.45% from the company’s previous close.

APA has been the subject of several other research reports. Mizuho decreased their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a research note on Monday, September 16th. Barclays reissued an “equal weight” rating and issued a $35.00 price objective on shares of APA in a research note on Wednesday, September 11th. UBS Group decreased their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein decreased their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of APA in a research note on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, eleven have given 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.com, the company has a consensus rating of “Hold” and an average target price of $35.43.

APA Stock Up 0.4 %

Shares of NASDAQ APA opened at $25.76 on Tuesday. The firm’s 50-day moving average price is $27.24 and its 200-day moving average price is $29.72. 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 capitalization of $9.56 billion, a price-to-earnings ratio of 2.88 and a beta of 3.24. APA has a 12-month low of $22.72 and a 12-month high of $43.58.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company earned $0.85 EPS. The business’s revenue was up 41.6% compared to the same quarter last year. On average, equities research analysts anticipate that APA will post 4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in APA by 10.6% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock worth $728,347,000 after purchasing an additional 1,938,335 shares during the last quarter. Harris Associates L P grew its holdings in APA by 17.8% in the fourth quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after purchasing an additional 2,367,570 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in APA by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after purchasing an additional 455,312 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.