Citigroup Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price dropped by equities researchers at Citigroup from $29.00 to $24.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 6.57% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Susquehanna dropped their target price on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada dropped their target price on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Truist Financial dropped their target price on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. UBS Group lowered their price target on APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Finally, Scotiabank lowered their price target on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, APA currently has an average rating of “Hold” and a consensus price target of $32.57.

APA Price Performance

APA opened at $22.52 on Tuesday. The business has a 50 day moving average price of $24.25 and a two-hundred day moving average price of $27.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $8.33 billion, a PE 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 $37.82.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APA. TD Private Client Wealth LLC raised its position in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in APA by 386.7% in the second 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 during the period. Rothschild Investment LLC purchased a new position in APA in the second quarter valued at about $42,000. Huntington National Bank raised its position in APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after purchasing an additional 561 shares during the period. Finally, GPS Wealth Strategies Group LLC raised its position in APA by 1,325.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after purchasing an additional 1,590 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.