Raymond James Increases APA (NASDAQ:APA) Price Target to $45.00

APA (NASDAQ:APA) had its target price upped by Raymond James from $44.00 to $45.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 89.91% from the company’s current price.

A number of other research firms have also recently weighed in on APA. Truist Financial dropped their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Scotiabank reduced their target price on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. UBS Group reduced their price objective on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, Mizuho lowered their target price on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.65.

APA Stock Performance

NASDAQ APA traded up $0.34 during trading on Thursday, reaching $23.70. 3,076,367 shares of the company’s stock were exchanged, compared to its average volume of 6,138,897. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day moving average price of $22.73 and a 200-day moving average price of $25.40. The stock has a market capitalization of $8.77 billion, a P/E ratio of 3.34 and a beta of 3.16. APA has a fifty-two week low of $20.32 and a fifty-two week high of $36.04.

Insider Buying and Selling

In related news, Director Juliet S. Ellis acquired 4,391 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This trade represents a 54.58 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC boosted its holdings in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in APA by 93.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the period. Huntington National Bank raised its position in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. Eastern Bank boosted its position in shares of APA by 355.0% during the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock valued at $53,000 after purchasing an additional 1,775 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares in the last quarter. Institutional investors and hedge funds 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.