The Goldman Sachs Group Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective decreased by stock analysts at The Goldman Sachs Group from $25.00 to $22.00 in a report released on Friday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 6.06% from the company’s previous close.

APA has been the subject of a number of other reports. Citigroup reduced their target price on shares of APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Bernstein Bank decreased their target price on APA from $30.00 to $28.00 in a report on Friday, October 18th. Susquehanna reduced their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a report on Friday, October 18th. Evercore ISI dropped their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Finally, Piper Sandler reduced their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.00.

APA Price Performance

Shares of NASDAQ APA opened at $23.42 on Friday. APA has a twelve month low of $20.32 and a twelve month high of $36.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average of $22.43 and a two-hundred day moving average of $25.84. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 3.31 and a beta of 3.16.

Insider Activity at APA

In other APA news, Director Juliet S. Ellis bought 4,391 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $22.78 per share, with a total value of $100,026.98. Following the completion of the transaction, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of APA

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TD Private Client Wealth LLC lifted its stake in shares of 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 buying an additional 540 shares during the last quarter. Rothschild Investment LLC acquired a new position in APA during the 2nd quarter worth $42,000. Huntington National Bank boosted its holdings in APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares during the period. Blue Trust Inc. grew its position in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after purchasing an additional 1,604 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of APA in the second quarter worth about $76,000. Institutional investors and hedge funds own 83.01% of the company’s stock.

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.