Mizuho Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective reduced by equities research analysts at Mizuho from $25.00 to $24.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 14.01% from the company’s previous close.

Several other equities analysts have also recently weighed in on APA. Royal Bank of Canada reduced their price target on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Truist Financial reduced their price target on APA from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group reduced their price target on APA from $26.00 to $25.00 in a research report on Friday, October 18th. UBS Group reduced their price target on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Scotiabank reduced their price target on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.14.

APA Stock Performance

Shares of APA opened at $21.05 on Monday. The firm has a market cap of $7.79 billion, a PE ratio of 2.97 and a beta of 3.18. The stock’s fifty day moving average price is $23.30 and its two-hundred day moving average price is $26.44. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. APA has a 1 year low of $20.45 and a 1 year high of $37.82.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis bought 4,391 shares of APA stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TD Private Client Wealth LLC grew its stake in shares of APA by 84.1% in the 3rd 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. Whittier Trust Co. of Nevada Inc. grew its stake in shares of APA by 386.7% in 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 last quarter. Rothschild Investment LLC purchased a new stake in shares of APA in the 2nd quarter worth approximately $42,000. Huntington National Bank grew its stake in shares of APA by 48.8% in the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after buying an additional 561 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after buying an additional 1,604 shares during 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.