APA (NASDAQ:APA) Price Target Cut to $25.00

APA (NASDAQ:APA) had its price objective lowered by The Goldman Sachs Group from $26.00 to $25.00 in a research note issued to investors on Friday. The Goldman Sachs Group’s target price would indicate a potential downside of 0.64% from the stock’s current price.

Several other equities analysts have also commented on APA. Scotiabank dropped their price target on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Truist Financial lifted their price target on shares of APA from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein decreased their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Mizuho cut their target price on APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research report on Monday, September 16th. Finally, Wolfe Research started coverage on APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 target price for the company. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.18.

APA Price Performance

APA opened at $25.16 on Friday. The stock’s 50-day moving average price is $26.43 and its 200 day moving average price is $29.06. APA has a 12-month low of $22.72 and a 12-month high of $43.58. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 2.81 and a beta of 3.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. APA had a return on equity of 35.95% and a net margin of 32.66%. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. As a group, sell-side analysts expect that APA will post 3.97 earnings per share for the current year.

Hedge Funds Weigh In On APA

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sunpointe LLC grew its stake in shares of APA by 2.8% during the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after acquiring an additional 362 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of APA by 12.0% in the second quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after purchasing an additional 380 shares during the period. Citizens Financial Group Inc. RI raised its stake in APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after acquiring an additional 429 shares in the last quarter. Inspire Investing LLC lifted its holdings in APA by 3.7% in the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after purchasing an additional 457 shares during the period. Finally, American International Group Inc. lifted its stake in shares of APA by 0.5% in the 4th quarter. American International Group Inc. now owns 86,458 shares of the company’s stock worth $3,102,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds 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.