APA (NASDAQ:APA) Price Target Lowered to $20.00 at JPMorgan Chase & Co.

APA (NASDAQ:APA) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $23.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.02% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. Piper Sandler lowered their price objective on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $45.00 to $32.00 in a research report on Monday. Citigroup cut their price objective on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $32.00 target price on shares of APA in a report on Thursday, January 23rd. Finally, Mizuho decreased their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, APA currently has an average rating of “Hold” and a consensus target price of $28.90.

APA Price Performance

NASDAQ:APA traded down $0.79 on Thursday, reaching $18.87. The stock had a trading volume of 2,413,858 shares, compared to its average volume of 6,519,731. The stock has a fifty day moving average price of $22.45 and a 200-day moving average price of $23.46. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 1-year low of $17.66 and a 1-year high of $36.05. The company has a market capitalization of $6.87 billion, a P/E ratio of 2.66 and a beta of 3.26.

APA (NASDAQ:APA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. Research analysts forecast that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

A number of hedge funds have recently added to or reduced their stakes in APA. PKO Investment Management Joint Stock Co bought a new stake in APA in the 4th quarter valued at about $277,000. Siemens Fonds Invest GmbH purchased a new stake in shares of APA during the fourth quarter valued at approximately $42,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in APA in the 4th quarter worth $1,721,000. Jefferies Financial Group Inc. raised its stake in shares of APA by 459.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 53,538 shares of the company’s stock valued at $1,236,000 after acquiring an additional 43,974 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of APA during the fourth quarter worth about $2,612,000. 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.