Wells Fargo & Company Cuts APA (NASDAQ:APA) Price Target to $23.00

APA (NASDAQ:APA) had its price objective cut by analysts at Wells Fargo & Company from $25.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.49% from the company’s current price.

APA has been the subject of several other research reports. Susquehanna dropped their price objective on shares of APA from $33.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, March 3rd. Mizuho dropped their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research report on Monday, December 16th. Piper Sandler reduced their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Citigroup lowered their price objective on APA from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 target price on shares of APA in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.20.

APA Price Performance

APA stock opened at $21.20 on Wednesday. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 2.99 and a beta of 3.26. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 12 month low of $17.66 and a 12 month high of $36.05. The stock’s 50 day moving average is $21.65 and its 200-day moving average is $22.94.

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

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently modified their holdings of APA. Pathstone Holdings LLC grew its holdings in shares of APA by 2.7% during the third quarter. Pathstone Holdings LLC now owns 68,074 shares of the company’s stock worth $1,665,000 after purchasing an additional 1,771 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in APA by 30.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 74,377 shares of the company’s stock worth $1,819,000 after buying an additional 17,188 shares during the period. Raymond James Trust N.A. grew its holdings in APA by 22.0% during the 3rd quarter. Raymond James Trust N.A. now owns 20,071 shares of the company’s stock worth $491,000 after acquiring an additional 3,623 shares during the last quarter. Cerity Partners LLC grew its holdings in APA by 25.5% during the 3rd quarter. Cerity Partners LLC now owns 28,710 shares of the company’s stock worth $702,000 after acquiring an additional 5,842 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in APA by 13.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 45,194 shares of the company’s stock valued at $1,105,000 after acquiring an additional 5,385 shares during the period. Institutional investors 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.