Johnson Rice slashes price target on APA Corporation [APA] – find out why.

APA Corporation [NASDAQ: APA] jumped around 0.43 points on Tuesday, while shares priced at $30.46 at the close of the session, up 1.43%. The company report on February 26, 2024 at 5:51 PM that APA Corporation Announces Timeline For Closing of Callon Petroleum Company Transaction; Issues Investor Slide Deck Highlighting Top-Tier Permian Performance.

“We are pleased to be taking this next step toward the closing of the Callon acquisition, which is scheduled to take place in just under three months following the January announcement,” said John J. Christmann IV, APA’s chief executive officer. “This transaction is expected to be accretive on all financial metrics and offers significant cost synergies. We look forward to integrating the Callon assets and providing more information about the Permian Basin outlook from the combined assets. We are confident that we will deliver considerable future value for both companies’ shareholders.”.

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Compared to the average trading volume of 5.65M shares, APA reached a trading volume of 5865786 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 $41.40 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 2.21. 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.

Johnson Rice have made an estimate for APA Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 05, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $52 to $37. The new note on the price target was released on November 22, 2023, representing the official price target for APA Corporation stock. Previously, the target price had yet another drop from $51 to $50, while Bernstein kept a Mkt Perform rating on APA stock.

The Average True Range (ATR) for APA Corporation is set at 0.88, with the Price to Sales ratio for APA stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 3.48, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for APA in the course of the last twelve months was 11.54 with Quick ratio for the last quarter at 0.84.

How has APA stock performed recently?

APA Corporation [APA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.86. With this latest performance, APA shares gained by 0.73% in over the last four-week period, additionally sinking by -32.43% over the last 6 months – not to mention a drop of -25.98% 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 47.51, with the RSI for the last a single of trading hit 50.63, and the three-weeks RSI is set at 45.36 for APA Corporation [APA]. The present Moving Average for the last 50 days of trading for this stock 31.96, while it was recorded at 30.13 for the last single week of trading, and 36.77 for the last 200 days.

APA Corporation [APA]: Deeper insight into the fundamentals

APA Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.84 and a Current Ratio set at 1.02.

Earnings analysis for APA Corporation [APA]

With the latest financial reports released by the company, APA Corporation posted 1.19/share EPS, while the average EPS was predicted by analysts to be reported at 1.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.50%. 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 -5.75%.

Insider trade positions for APA Corporation [APA]

The top three institutional holders of APA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APA stock with ownership which is approximately 5.8325%.