Fintel reports that on May 5, 2023, Truist Securities maintained coverage of Apache (NASDAQ:APA) with a Buy recommendation.
Analyst Price Forecast Suggests 58.94% Upside
As of April 24, 2023, the average one-year price target for Apache is 51.27. The forecasts range from a low of 36.36 to a high of $78.75. The average price target represents an increase of 58.94% from its latest reported closing price of 32.26.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apache is 9,769MM, an increase of 6.63%. The projected annual non-GAAP EPS is 9.61.
What is the Fund Sentiment?
There are 1435 funds or institutions reporting positions in Apache. This is an increase of 31 owner(s) or 2.21% in the last quarter. Average portfolio weight of all funds dedicated to APA is 0.30%, an increase of 27.67%. Total shares owned by institutions decreased in the last three months by 3.06% to 291,478K shares. 
The put/call ratio of APA is 0.90, indicating a bullish outlook.
What are Other Shareholders Doing?
Invesco holds 14,154K shares representing 4.55% ownership of the company. In it's prior filing, the firm reported owning 12,831K shares, representing an increase of 9.34%. The firm increased its portfolio allocation in APA by 37.05% over the last quarter.
Hotchkis & Wiley Capital Management holds 11,072K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 11,775K shares, representing a decrease of 6.34%. The firm increased its portfolio allocation in APA by 14.71% over the last quarter.
Harris Associates L P holds 10,126K shares representing 3.26% ownership of the company. In it's prior filing, the firm reported owning 13,354K shares, representing a decrease of 31.88%. The firm decreased its portfolio allocation in APA by 2.58% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,771K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 9,748K shares, representing an increase of 0.23%. The firm increased its portfolio allocation in APA by 26.38% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 9,307K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 9,540K shares, representing a decrease of 2.51%. The firm increased its portfolio allocation in APA by 9.63% over the last quarter.
APA Background Information
(This description is provided by the company.)
APA Corporation, through its consolidated subsidiaries, explores for and produces oil and gas with operations in the United States, Egypt and the United Kingdom and exploration activities offshore Suriname.
This story originally appeared on Fintel.
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