APA (NASDAQ:APA) Price Target Cut to $32.00 by Analysts at Citigroup

APA (NASDAQ:APA) had its price objective reduced by Citigroup from $33.00 to $32.00 in a report released on Monday morning. Citigroup currently has a neutral rating on the stock.

Other research analysts have also recently issued research reports about the stock. Scotiabank cut their price objective on shares of APA from $37.00 to $30.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Sanford C. Bernstein reduced their price objective on shares of APA from $37.00 to $30.00 and set a market perform rating on the stock in a research report on Wednesday, July 17th. Bank of America reissued an underperform rating and issued a $31.00 price objective on shares of APA in a research note on Friday, June 14th. Wolfe Research began coverage on APA in a research note on Thursday, July 18th. They set an outperform rating and a $42.00 target price on the stock. Finally, Susquehanna decreased their price target on APA from $57.00 to $52.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, APA has an average rating of Hold and a consensus price target of $37.76.

APA Stock Down 1.3 %

Shares of NASDAQ:APA opened at $24.92 on Monday. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 2.79 and a beta of 3.24. APA has a 12 month low of $24.77 and a 12 month high of $44.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $29.15 and a 200 day moving average price of $30.44.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The company’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities research analysts predict that APA will post 4.36 earnings per share for the current year.

Institutional Investors Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the stock. American National Bank grew its holdings in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock worth $25,000 after purchasing an additional 490 shares during the last quarter. Principal Securities Inc. purchased a new position in APA during the 4th quarter worth $39,000. Covestor Ltd increased its position in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after buying an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in APA in the second quarter valued at about $42,000. Institutional investors own 83.01% of the company’s stock.

APA Company Profile

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.