Piper Sandler Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price dropped by investment analysts at Piper Sandler from $28.00 to $26.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 14.54% from the company’s current price.

APA has been the topic of several other research reports. Royal Bank of Canada dropped their price target on APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 11th. Scotiabank lowered their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Bernstein Bank reduced their target price on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. The Goldman Sachs Group lowered their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Finally, Truist Financial reduced their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, APA presently has an average rating of “Hold” and a consensus price target of $32.86.

APA Stock Up 1.4 %

APA stock traded up $0.32 during mid-day trading on Monday, hitting $22.70. 1,709,318 shares of the company were exchanged, compared to its average volume of 6,249,516. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA has a 1-year low of $21.15 and a 1-year high of $37.82. The firm’s 50 day simple moving average is $24.51 and its 200 day simple moving average is $27.65. The firm has a market cap of $8.40 billion, a P/E ratio of 3.21 and a beta of 3.24.

Hedge Funds Weigh In On APA

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares in the last quarter. Woodstock Corp boosted its stake in APA by 20.3% in the third quarter. Woodstock Corp now owns 308,253 shares of the company’s stock valued at $7,540,000 after buying an additional 51,993 shares in the last quarter. Ellis Investment Partners LLC bought a new position in APA in the second quarter valued at about $2,499,000. AQR Capital Management LLC raised its stake in APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock worth $42,092,000 after acquiring an additional 767,557 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of APA by 50.2% in the second quarter. Hsbc Holdings PLC now owns 985,596 shares of the company’s stock worth $29,002,000 after acquiring an additional 329,462 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.