Piper Sandler Cuts APA (NASDAQ:APA) Price Target to $23.00

APA (NASDAQ:APA) had its price objective lowered by investment analysts at Piper Sandler from $26.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 11.54% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays reduced their target price on APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Friday, November 8th. Susquehanna decreased their target price on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group decreased their price objective on shares of APA from $26.00 to $25.00 in a report on Friday, October 18th. Mizuho dropped their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.14.

APA Stock Down 6.0 %

APA stock traded down $1.32 during trading hours on Tuesday, hitting $20.62. The stock had a trading volume of 3,394,340 shares, compared to its average volume of 6,262,378. The stock’s 50-day moving average price is $23.41 and its 200-day moving average price is $26.51. APA has a 12-month low of $20.57 and a 12-month high of $37.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $7.63 billion, a P/E ratio of 2.91 and a beta of 3.18.

Insider Buying and Selling

In other news, Director Juliet S. Ellis bought 4,391 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the transaction, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On APA

Institutional investors and hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC grew its position in APA by 84.1% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of APA by 386.7% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares during the last quarter. Rothschild Investment LLC bought a new stake in APA during the 2nd quarter valued at about $42,000. Huntington National Bank grew its stake in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after acquiring an additional 1,604 shares during the period. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.