The Goldman Sachs Group Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target decreased by stock analysts at The Goldman Sachs Group from $25.00 to $22.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential downside of 6.06% from the company’s current price.

APA has been the topic of a number of other reports. Citigroup decreased their target price on APA from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Truist Financial decreased their price objective on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered APA from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $42.00 to $25.00 in a research note on Tuesday, December 17th. Scotiabank decreased their price target on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler lowered their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.00.

APA Stock Performance

NASDAQ APA opened at $23.42 on Friday. The company’s fifty day moving average is $22.43 and its two-hundred day moving average is $25.84. APA has a 52-week low of $20.32 and a 52-week high of $36.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 3.31 and a beta of 3.16.

Insider Activity

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI increased its stake in shares of APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock valued at $202,000 after buying an additional 429 shares during the period. Empirical Finance LLC boosted its holdings in APA by 1.6% in the third quarter. Empirical Finance LLC now owns 31,272 shares of the company’s stock valued at $765,000 after acquiring an additional 497 shares during the last quarter. UMB Bank n.a. increased its position in APA by 16.9% in the third quarter. UMB Bank n.a. now owns 3,556 shares of the company’s stock worth $87,000 after purchasing an additional 513 shares during the period. NewEdge Advisors LLC raised its holdings in APA by 1.1% during the 2nd quarter. NewEdge Advisors LLC now owns 46,603 shares of the company’s stock worth $1,372,000 after purchasing an additional 521 shares during the last quarter. Finally, Segment Wealth Management LLC lifted its position in APA by 1.0% during the 3rd quarter. Segment Wealth Management LLC now owns 54,367 shares of the company’s stock valued at $1,330,000 after purchasing an additional 535 shares during the period. 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.