APA (NASDAQ:APA) PT Lowered to $26.00

APA (NASDAQ:APA) had its target price cut by research analysts at The Goldman Sachs Group from $30.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 4.24% from the stock’s previous close.

APA has been the topic of several other research reports. Wolfe Research assumed coverage on shares of APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target on the stock. Truist Financial reduced their target price on APA from $46.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Citigroup lowered their price target on APA from $33.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, September 9th. Evercore ISI cut their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Finally, Sanford C. Bernstein dropped their price target on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, APA presently has a consensus rating of “Hold” and a consensus target price of $34.95.

APA Stock Performance

Shares of APA stock traded up $0.26 during trading on Monday, reaching $27.15. The company’s stock had a trading volume of 505,504 shares, compared to its average volume of 6,265,086. 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 $27.06 and a two-hundred day moving average price of $29.61. APA has a fifty-two week low of $22.72 and a fifty-two week high of $43.58. The firm has a market cap of $10.08 billion, a PE ratio of 3.06 and a beta of 3.23.

APA (NASDAQ:APA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. APA’s revenue was up 41.6% compared to the same quarter last year. On average, analysts forecast that APA will post 4.04 EPS for the current year.

Institutional Investors Weigh In On APA

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of APA by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after acquiring an additional 2,004,555 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of APA by 10.6% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 20,299,538 shares of the company’s stock valued at $728,347,000 after purchasing an additional 1,938,335 shares in the last quarter. Harris Associates L P boosted its stake in shares of APA by 17.8% during the 4th quarter. Harris Associates L P now owns 15,705,693 shares of the company’s stock worth $563,520,000 after acquiring an additional 2,367,570 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in APA by 131.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after purchasing an additional 2,736,041 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of APA by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock worth $98,865,000 after buying an additional 455,312 shares during the period. 83.01% of the stock is owned by hedge funds and other 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.