APA (NASDAQ:APA) Price Target Cut to $26.00

APA (NASDAQ:APA) had its price objective decreased by analysts at The Goldman Sachs Group from $30.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 0.99% from the stock’s previous close.

APA has been the subject of several other reports. Bank of America reaffirmed an “underperform” rating and issued a $31.00 target price on shares of APA in a report on Friday, June 14th. Sanford C. Bernstein lowered their price objective on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Mizuho reduced their target price on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of APA in a report on Tuesday, September 17th. Finally, Barclays decreased their target price on APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.95.

APA Price Performance

Shares of NASDAQ APA opened at $26.26 on Monday. The company has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $29.51. APA has a fifty-two week low of $22.72 and a fifty-two week high of $43.58. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 2.94 and a beta of 3.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 41.6% compared to the same quarter last year. Analysts expect that APA will post 4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Several large investors have recently bought and sold shares of APA. GAMMA Investing LLC increased its stake in APA by 42.8% in the third quarter. GAMMA Investing LLC now owns 5,081 shares of the company’s stock worth $124,000 after purchasing an additional 1,523 shares during the period. Czech National Bank raised its position in shares of APA by 9.8% in the 3rd quarter. Czech National Bank now owns 75,353 shares of the company’s stock worth $1,843,000 after acquiring an additional 6,740 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of APA during the 2nd quarter worth $308,000. Teachers Retirement System of The State of Kentucky boosted its position in APA by 12.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 908,906 shares of the company’s stock valued at $26,758,000 after purchasing an additional 100,160 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of APA by 160.1% in the 2nd quarter. Cetera Investment Advisers now owns 75,593 shares of the company’s stock worth $2,225,000 after buying an additional 46,535 shares during the last quarter. Institutional investors 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.