Citigroup Lowers APA (NASDAQ:APA) Price Target to $20.00

APA (NASDAQ:APA) had its target price dropped by analysts at Citigroup from $24.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential downside of 0.84% from the company’s previous close.

APA has been the topic of a number of other research reports. The Goldman Sachs Group dropped their price objective on shares of APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on shares of APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Mizuho dropped their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. UBS Group decreased their target price on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Piper Sandler decreased their target price on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.60.

APA Stock Performance

Shares of APA stock opened at $20.17 on Monday. The firm has a market capitalization of $7.34 billion, a P/E ratio of 2.85 and a beta of 3.26. 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 company has a 50 day moving average price of $22.15 and a 200 day moving average price of $23.17. APA has a 52 week low of $17.66 and a 52 week high of $36.05.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a net margin of 24.36% and a return on equity of 27.86%. Sell-side analysts expect that APA will post 4.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in APA by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock valued at $11,176,000 after acquiring an additional 13,557 shares in the last quarter. GSA Capital Partners LLP acquired a new position in APA in the 3rd quarter valued at about $281,000. Oppenheimer & Co. Inc. grew its position in APA by 13.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 75,655 shares of the company’s stock valued at $1,851,000 after acquiring an additional 9,081 shares in the last quarter. Huntington National Bank grew its position in APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares in the last quarter. Finally, ING Groep NV grew its position in APA by 1.7% in the 3rd quarter. ING Groep NV now owns 61,382 shares of the company’s stock valued at $1,501,000 after acquiring an additional 1,021 shares in the last quarter. 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.