APA (NASDAQ:APA) Price Target Cut to $27.00 by Analysts at JPMorgan Chase & Co.

APA (NASDAQ:APA) had its price target cut by JPMorgan Chase & Co. from $36.00 to $27.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

APA has been the topic of several other reports. Barclays restated an equal weight rating and set a $35.00 price target on shares of APA in a report on Wednesday, September 11th. Wolfe Research started coverage on APA in a research report on Thursday, July 18th. They issued an outperform rating and a $42.00 target price on the stock. Piper Sandler lowered their price target on APA from $34.00 to $29.00 and set a neutral rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada restated a sector perform rating and issued a $41.00 price objective on shares of APA in a report on Thursday, September 5th. Finally, Truist Financial lifted their target price on shares of APA from $45.00 to $46.00 and gave the company a buy rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $37.00.

APA Stock Performance

Shares of APA stock opened at $23.94 on Thursday. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of 2.68 and a beta of 3.24. APA has a 1-year low of $22.72 and a 1-year high of $43.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The stock’s fifty day simple moving average is $28.71 and its 200-day simple moving average is $30.27.

APA (NASDAQ:APA) last released its earnings results on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.22. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.28 billion. APA had a return on equity of 35.95% and a net margin of 32.66%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 EPS. On average, sell-side analysts predict that APA will post 4.34 earnings per share for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently modified their holdings of APA. Private Advisor Group LLC boosted its position in shares of APA by 173.0% during the 4th quarter. Private Advisor Group LLC now owns 16,871 shares of the company’s stock valued at $605,000 after acquiring an additional 10,692 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of APA in the 4th quarter valued at $39,000. Jump Financial LLC grew its holdings in shares of APA by 128.4% in the 4th quarter. Jump Financial LLC now owns 27,900 shares of the company’s stock worth $1,001,000 after purchasing an additional 15,684 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of APA by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,841,956 shares of the company’s stock worth $66,093,000 after purchasing an additional 345,192 shares in the last quarter. Finally, Ieq Capital LLC lifted its holdings in APA by 7.5% during the 4th quarter. Ieq Capital LLC now owns 11,987 shares of the company’s stock valued at $430,000 after purchasing an additional 837 shares during the last quarter. 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.