APA Corporation [APA] stock Upgrade by Mizuho analyst, price target now $56


APA Corporation [NASDAQ: APA] traded at a low on 06/13/22, posting a -6.64 loss after which it closed the day’ session at $45.57. The company report on June 13, 2022 that APA Corporation Provides an Activity Update for Suriname Block 53.

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APA Corporation (Nasdaq: APA) today provided results from recent drilling operations on Suriname Block 53. APA Suriname, the operator, holds a 45% working interest in the block, with Petronas holding a 30% working interest and CEPSA holding a 25% working interest.

APA has completed operations on the Rasper well in the northwestern area of the block. The well encountered water bearing reservoirs in the Campanian and Santonian intervals, evaluation of the open hole well logs, and formation and reservoir fluid samples is ongoing.

The results of the trading session contributed to over 9766801 shares changing hands. Over the past one week, the price volatility of APA Corporation stands at 4.76% while the volatility over the past one month is 4.96%.

The market cap for APA stock reached $15.80 billion, with 346.00 million shares outstanding and 337.08 million shares in the current float. Compared to the average trading volume of 9.09M shares, APA reached a trading volume of 9766801 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about APA Corporation [APA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APA shares is $56.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APA stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Mizuho have made an estimate for APA Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 31, 2022. The new note on the price target was released on November 17, 2021, representing the official price target for APA Corporation stock. Previously, the target price had yet another raise to $45, while Truist analysts kept a Buy rating on APA stock. On September 30, 2021, analysts decreased their price target for APA shares from 27 to 23.

The Average True Range (ATR) for APA Corporation is set at 2.66, with the Price to Sales ratio for APA stock in the period of the last 12 months amounting to 1.80. Price to Free Cash Flow for APA in the course of the last twelve months was 4.36 with Quick ratio for the last quarter at 1.00.

How has APA stock performed recently?

APA Corporation [APA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.14. With this latest performance, APA shares gained by 19.83% in over the last four-week period, additionally plugging by 70.87% over the last 6 months – not to mention a rise of 103.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APA stock in for the last two-week period is set at 49.81, with the RSI for the last a single of trading hit 43.84, and the three-weeks RSI is set at 52.21 for APA Corporation [APA]. The present Moving Average for the last 50 days of trading for this stock 43.30, while it was recorded at 49.40 for the last single week of trading, and 32.54 for the last 200 days.

APA Corporation [APA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and APA Corporation [APA] shares currently have an operating margin of +33.71 and a Gross Margin at +40.98. APA Corporation’s Net Margin is presently recorded at +12.19.

APA Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.20.

Earnings analysis for APA Corporation [APA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for APA Corporation go to 26.27%.

Insider trade positions for APA Corporation [APA]

There are presently around $13,955 million, or 87.40% of APA stock, in the hands of institutional investors. The top three institutional holders of APA stocks are: VANGUARD GROUP INC with ownership of 43,539,293, which is approximately -3.701% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 23,689,667 shares of the stock with an approximate value of $1.16 billion in APA stocks shares; and STATE STREET CORP, currently with $1.12 billion in APA stock with ownership of nearly -0.443% of the company’s market capitalization.

Positions in APA Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 365 institutional holders increased their position in APA Corporation [NASDAQ:APA] by around 32,962,046 shares. Additionally, 224 investors decreased positions by around 38,031,725 shares, while 89 investors held positions by with 214,909,993 shares. The mentioned changes placed institutional holdings at 285,903,764 shares, according to the latest SEC report filing. APA stock had 169 new institutional investments in for a total of 13,880,266 shares, while 51 institutional investors sold positions of 4,754,552 shares during the same period.