APA Corporation (NASDAQ:APA) does about 6.23M shares in volume on a normal day but saw 11451078 shares change hands in Monday trading. The company now has a market cap of 10.43B USD. Its current market price is $34.59, marking an increase of 3.38% compared to the previous close of $33.46. The 52 week high reached by this stock is $46.15 whilst the lowest price level in 52 weeks is $29.47.
APA Corporation (APA) has a 20-day trading average at $31.69 and the current price is -25.04% off the 52-week high compared with 17.37% distance from its 52-week low. The 50-day simple moving average of the closing price is $31.19 and its 200-day simple moving average is $36.70. If we look at the stock’s price movements over the week, volatility stands at 2.89%, which decreases to 2.51% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.89 to suggest the stock is neutral.
The consensus objective for the share price is $40.55, suggesting that the stock has a potential upside of 14.7% over the period.
Citigroup also downgraded the stock to “Neutral” from Buy on November 22, 2023 at a price target of $52-$37. Bernstein downgraded its price target at $51-$50.
APA Corporation (APA) stock is up 6.96% over the week and 15.18% over the past month. Its price is -3.60% year-to-date and 1.71% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of $1.15 below consensus estimates by -$0.2. APA’s earnings per share are forecast to shrink by -10.80% this year and 25.20% over next year. Expected sales for next quarter are $2.25 billion, which analysts say will come at $8.82 billion for the current fiscal year and next year at $9.81 billion. In addition, estimates put the company’s current quarterly revenue at an average of $1.82 billion.
To reach the target analysts have set, the stock logically needs to grow 14.7 percent from here.
Outstanding shares total 303.58M with insiders holding 0.48% of the shares and institutional holders owning 85.15% of the company’s common stock. The company has a return on investment of 35.66% and return on equity of 185.51%. The price to earnings ratio (P/E ratio) amounts to 3.73 while the forward price to earnings ratio is 6.97. The beta has a value of 3.27. Price to book ratio is 3.96 and price to sales ratio is 1.26.
