JPMorgan Chase & Co. Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $29.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 10.62% from the stock’s previous close.

Several other equities research analysts also recently weighed in on APA. Truist Financial decreased their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Wolfe Research assumed coverage on APA in a research note on Thursday, July 18th. They set an “outperform” rating and a $42.00 price target on the stock. Royal Bank of Canada cut their price target on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday. Wells Fargo & Company decreased their price objective on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, Barclays cut their target price on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, APA presently has an average rating of “Hold” and an average price target of $32.95.

APA Price Performance

APA stock opened at $22.60 on Wednesday. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 3.19 and a beta of 3.24. APA has a 52-week low of $21.15 and a 52-week high of $38.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day moving average price is $24.57 and its two-hundred day moving average price is $27.76.

Institutional Investors Weigh In On APA

A number of hedge funds have recently modified their holdings of APA. Covestor Ltd lifted its holdings in APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of APA in the second quarter worth $42,000. GPS Wealth Strategies Group LLC boosted its position in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Huntington National Bank grew its stake in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

About APA

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.