Barclays Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target cut by equities research analysts at Barclays from $30.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 24.02% from the stock’s previous close.

A number of other equities analysts have also weighed in on APA. JPMorgan Chase & Co. reduced their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 18th. Mizuho decreased their price objective on APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. The Goldman Sachs Group cut their target price on APA from $26.00 to $25.00 in a research note on Friday, October 18th. Truist Financial decreased their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Friday. Finally, Sanford C. Bernstein cut their price objective on shares of APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.91.

APA Stock Performance

Shares of APA opened at $21.77 on Friday. The firm’s 50 day moving average price is $24.94 and its two-hundred day moving average price is $28.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA has a twelve month low of $21.15 and a twelve month high of $38.27. The firm has a market cap of $8.05 billion, a P/E ratio of 3.07 and a beta of 3.24.

Institutional Investors Weigh In On APA

Several hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its position in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new position in APA in the 2nd quarter valued at about $42,000. Huntington National Bank raised its holdings 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 during the period. Finally, GPS Wealth Strategies Group LLC lifted its position in APA by 1,325.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares during the last quarter. 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.