Piper Sandler Lowers APA (NASDAQ:APA) Price Target to $28.00

APA (NASDAQ:APA) had its target price lowered by equities researchers at Piper Sandler from $29.00 to $28.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 12.90% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein decreased their price target on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. UBS Group dropped their price target on APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Scotiabank dropped their price target on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. The Goldman Sachs Group dropped their price target on APA from $30.00 to $26.00 and set a “sell” rating for the company in a research report on Monday, October 7th. Finally, Susquehanna dropped their price target on APA from $57.00 to $52.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.86.

APA Price Performance

Shares of APA stock opened at $24.80 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average is $26.56 and its 200 day moving average is $29.21. The stock has a market cap of $9.21 billion, a P/E ratio of 2.77 and a beta of 3.23. APA has a one year low of $22.72 and a one year high of $43.58.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. The business 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 quarterly revenue was up 41.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. Sell-side analysts anticipate that APA will post 3.97 earnings per share for the current year.

Institutional Investors Weigh In On APA

A number of hedge funds and other institutional investors have recently bought and sold shares of APA. American International Group Inc. lifted its position in APA by 0.5% during the fourth quarter. American International Group Inc. now owns 86,458 shares of the company’s stock valued at $3,102,000 after acquiring an additional 461 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of APA by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 42,643,529 shares of the company’s stock worth $1,530,050,000 after buying an additional 924,400 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of APA by 7.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 41,648 shares of the company’s stock worth $1,494,000 after buying an additional 2,787 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of APA in the fourth quarter worth $454,000. Finally, Nomura Holdings Inc. raised its holdings in shares of APA by 171.4% in the fourth quarter. Nomura Holdings Inc. now owns 9,848 shares of the company’s stock worth $353,000 after buying an additional 23,648 shares during the last quarter. Hedge funds and other 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.