Piper Sandler Cuts APA (NASDAQ:APA) Price Target to $23.00

APA (NASDAQ:APA) had its price target dropped by research analysts at Piper Sandler from $26.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 10.36% from the company’s previous close.

APA has been the topic of a number of other reports. Mizuho lowered their price objective on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday. Bernstein Bank reduced their price objective on shares of APA from $30.00 to $28.00 in a research note on Friday, October 18th. Scotiabank lowered their target price on APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Barclays lowered their price target on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut shares of APA from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $42.00 to $25.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, APA presently has a consensus rating of “Hold” and a consensus target price of $31.14.

APA Price Performance

NASDAQ APA opened at $20.84 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA has a 52-week low of $20.45 and a 52-week high of $37.82. The business has a 50 day simple moving average of $23.19 and a 200 day simple moving average of $26.40. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 2.94 and a beta of 3.18.

Insiders Place Their Bets

In other news, Director Juliet S. Ellis purchased 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the acquisition, the director now owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of APA

Institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC boosted its position in APA by 84.1% during the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position 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 valued at $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of APA in the second quarter worth $42,000. Huntington National Bank increased its stake in 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 acquiring an additional 561 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of APA by 164.2% during the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after acquiring an additional 1,604 shares during the last quarter. 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.