APA Corporation (NASDAQ:APA) saw an upside of 0.72% to close Monday at $42.17 after adding $0.3 on the day. The 5-day average trading volume is 5,303,720 shares of the company’s common stock. It has gained $42.65 in the past week and touched a new high 3 times within the past 5 days. An average of 4,997,875 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,120,836.
APA’s 1-month performance is 20.80% or $7.26 on its low of $34.72 reached on 07/10/23. The company’s shares have touched a 52-week low of $30.15 and high of $50.58, with the stock’s rally to the 52-week high happening on 01/27/23. YTD, APA has lost -9.66% or -$4.51 and has reached a new high 2 times. However, the current price is down -16.63% from the 52-week high price.
Valuation Metrics
APA stock has a beta of 3.52. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.24 while the price-to-book (PB) in the most recent quarter is 18.33, with the price to cash flow ratio at 40.46.
APA Corporation’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 1.00. As well, the company’s long term debt to equity for the quarter ending June 29 was 7.86, while the total debt to equity was 7.86. In terms of profitability, the gross margin trailing 12 months is 70.60%. The trailing 12-month EBITDA margin is 59.95% while for the period ending June 29, APA Corporation’s operating margin was 36.10%. The firm’s gross profit as reported stood at $5.73 billion against revenue of $12.13 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 146.69% to $242.0 million, while revenue of $2.44 billion was -907.85% off the previous quarter. Analysts expected APA to announce $0.75 per share in earnings in its latest quarter, but it posted $0.85, representing a 13.30% surprise. EBITDA for the quarter stood at more than $1.07 billion. APA stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 11.55 billion, with total debt at $5.68 billion. Shareholders hold equity totaling $307.26 million.
Let’s look briefly at APA Corporation (APA) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 72.85% to suggest the stock is trending Overbought, with historical volatility in this time period at 39.10%.
The stock’s 5-day moving average is $40.99, reflecting a +4.15% or $1.68 change from its current price. APA is currently trading +20.21% above its 20-day SMA, +21.07% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +22.66% and SMA200 by+5.90%.
Stochastic %K and %D was 90.27% and 84.05% and the average true range (ATR) pointed at 1.27. The RSI (14) points at 70.32%, while the 14-day stochastic is at 90.42% with the period’s ATR at 1.25. The stock’s 9-day MACD Oscillator is pointing at 1.34 and 2.00 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for APA Corporation (NASDAQ: APA), The Benchmark Company launched coverage with a Buy rating. Analysts offering their rating for APA stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate APA as a “sell,”, while 10 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 4 rates the stock as overweight while 13 have offered a “buy” rating.
What is APA’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $30.00 and a high of $65.00, with their median price target at $46.00. Looking at these predictions, the average price target given by analysts is for APA Corporation (APA) stock is $46.22.
