Piper Sandler Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective reduced by analysts at Piper Sandler from $26.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 10.36% from the company’s current price.

APA has been the topic of several other reports. Evercore ISI dropped their price target on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group lowered their price objective on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. UBS Group lowered their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Bernstein Bank cut their price objective on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. cut 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 analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.14.

APA Stock Performance

Shares of APA opened at $20.84 on Tuesday. APA has a 52-week low of $20.45 and a 52-week 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 firm has a market cap of $7.71 billion, a price-to-earnings ratio of 2.94 and a beta of 3.18. The business’s 50 day moving average is $23.19 and its two-hundred day moving average is $26.40.

Insiders Place Their Bets

In related news, Director Juliet S. Ellis purchased 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On APA

A number of large investors have recently modified their holdings of the stock. Synovus Financial Corp raised its position in APA by 144.3% in the 3rd quarter. Synovus Financial Corp now owns 30,925 shares of the company’s stock worth $756,000 after purchasing an additional 18,268 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of APA by 154.2% during the third quarter. Tidal Investments LLC now owns 62,400 shares of the company’s stock valued at $1,526,000 after acquiring an additional 37,855 shares during the period. PVG Asset Management Corp bought a new position in APA in the third quarter valued at about $757,000. Sanctuary Advisors LLC raised its holdings in APA by 23.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,678 shares of the company’s stock worth $266,000 after purchasing an additional 2,185 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 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.