APA Corporation (APA) Upgraded at Roth Capital. Here is Why

With an annual dividend yield of 2.99%, APA Corporation (NASDAQ:APA) is included among the 12 Best NASDAQ Stocks to Buy for Dividends.

APA Corporation (NASDAQ:APA) is an independent energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids.

On June 22, Roth Capital analyst Leo Mariani upgraded APA Corporation (NASDAQ:APA) from 'Neutral' to 'Buy', while also raising the firm's price objective on the stock from $37 to $38. The target boost implies an upside of over 14% from the current levels.

Roth Capital upgraded several companies in the exploration and production sector, noting that global crude prices appear to be nearing a short-term bottom with a potential US-Iran ceasefire "seeming tenuous". The firm highlighted that many oil exploration and production stocks have declined by 15%-25% from their YTD highs and are now trading at more attractive valuations.

Roth expects lasting damage to the key oil infrastructure in the Middle East and anticipates additional oil volumes to pass through the Strait of Hormuz, although it believes that these factors have been priced in energy stocks already. The analyst firm is projecting the globa

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/apa-corporation-apa-upgraded-roth-041027828.html)