APA (NASDAQ:APA) Price Target Cut to $24.00 by Analysts at Citigroup

APA (NASDAQ:APA) had its price objective cut by equities researchers at Citigroup from $29.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 6.57% from the company’s previous close.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price target on APA from $26.00 to $25.00 in a research note on Friday, October 18th. Piper Sandler decreased their price target on APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Truist Financial decreased their price target on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Evercore ISI decreased their price target on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, Susquehanna decreased their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.57.

APA Price Performance

Shares of APA stock opened at $22.52 on Tuesday. The company has a market capitalization of $8.33 billion, a PE ratio of 3.19 and a beta of 3.24. APA has a 1-year low of $21.15 and a 1-year high of $37.82. The business has a 50-day moving average of $24.25 and a 200-day moving average of $27.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

Institutional Investors Weigh In On APA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC raised its holdings in APA by 12.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock worth $745,341,000 after purchasing an additional 3,411,270 shares in the last quarter. Harris Associates L P raised its holdings in APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock worth $293,312,000 after purchasing an additional 485,291 shares in the last quarter. Smead Capital Management Inc. grew its position in APA by 3.5% in the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after buying an additional 326,042 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in APA by 2.5% in the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after buying an additional 224,547 shares during the last quarter. 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.