Truist Financial Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price target decreased by stock analysts at Truist Financial from $36.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 51.58% from the stock’s previous close.

A number of other equities research analysts have also recently commented on APA. Evercore ISI dropped their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Mizuho lowered their target price on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Wolfe Research initiated coverage on APA in a research note on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target for the company. Sanford C. Bernstein lowered their price target on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Finally, Barclays cut their price objective on APA from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.91.

APA Stock Down 0.7 %

Shares of APA opened at $21.77 on Friday. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 3.07 and a beta of 3.24. APA has a 52 week low of $21.15 and a 52 week high of $38.27. The stock’s 50-day moving average price is $24.94 and its 200-day moving average price is $28.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of APA by 4.7% in the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company’s stock valued at $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of APA by 18.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 48,664 shares of the company’s stock worth $1,673,000 after acquiring an additional 7,580 shares during the period. Woodstock Corp raised its holdings in shares of APA by 20.3% during the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company’s stock worth $7,540,000 after acquiring an additional 51,993 shares during the period. Ellis Investment Partners LLC acquired a new position in shares of APA during the 2nd quarter valued at about $2,499,000. Finally, AQR Capital Management LLC grew its holdings in shares of APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after purchasing an additional 767,557 shares during the period. 83.01% of the stock is owned by hedge funds and other institutional investors.

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.