JPMorgan Chase & Co. Lowers APA (NASDAQ:APA) Price Target to $20.00

APA (NASDAQ:APA) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $23.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 1.99% from the company’s previous close.

APA has been the topic of several other reports. Susquehanna reduced their price objective on APA from $33.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, March 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $32.00 price objective on shares of APA in a research note on Thursday, January 23rd. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $45.00 to $32.00 in a research report on Monday, March 10th. Mizuho dropped their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler dropped their target price on APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.90.

APA Stock Performance

NASDAQ:APA opened at $19.61 on Thursday. The stock’s 50-day simple moving average is $22.29 and its 200 day simple moving average is $23.37. The firm has a market capitalization of $7.14 billion, a PE ratio of 2.77 and a beta of 3.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a twelve month low of $17.66 and a twelve month high of $36.05.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.18). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. On average, analysts anticipate that APA will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after purchasing an additional 1,077 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares in the last quarter. Riverview Trust Co increased its holdings in APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in APA by 77.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock worth $31,000 after purchasing an additional 586 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in APA in the fourth quarter valued at approximately $35,000. 83.01% of the stock is currently owned by institutional investors.

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.