Raymond James Believes APA (APA) Still Has Room to Grow

Raymond James analyst John Freeman reiterated a Buy rating on APA (APA) today and set a price target of $30.00. The company’s shares closed last Monday at $21.89, close to its 52-week high of $23.85.

According to TipRanks.com, Freeman is a 4-star analyst with an average return of 6.3% and a 46.2% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Occidental Petroleum.

APA has an analyst consensus of Moderate Buy, with a price target consensus of $24.30, implying a 10.5% upside from current levels. In a report issued on May 7, Susquehanna also maintained a Buy rating on the stock with a $26.00 price target.

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Based on APA’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.22 billion and net profit of $30 million. In comparison, last year the company earned revenue of $1.73 billion and had a GAAP net loss of $2.96 billion.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Apache Corp. operates as an energy company, which engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids. The company was founded by Truman Anderson, Raymond Plank, and Charles Arnao on December 6, 1954 and is headquartered in Houston, TX.

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