APA (NASDAQ:APA) Price Target Lowered to $31.00 at The Goldman Sachs Group

APA (NASDAQ:APAGet Free Report) had its price target cut by analysts at The Goldman Sachs Group from $35.00 to $31.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 8.04% from the stock’s previous close.

A number of other equities analysts also recently issued reports on APA. Scotiabank reaffirmed a “sector perform” rating and set a $37.00 price target (down from $43.00) on shares of APA in a research report on Tuesday, January 16th. Susquehanna lowered their target price on shares of APA from $53.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Mizuho lowered their target price on shares of APA from $36.00 to $34.00 and set an “underperform” rating on the stock in a research note on Friday, March 15th. StockNews.com lowered shares of APA from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, UBS Group decreased their price target on shares of APA from $48.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, APA currently has an average rating of “Hold” and an average price target of $43.61.

View Our Latest Report on APA

APA Stock Up 2.5 %

Shares of NASDAQ APA opened at $33.71 on Tuesday. The stock has a 50 day moving average price of $31.26 and a 200 day moving average price of $35.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 3.63 and a beta of 3.27. APA has a 52-week low of $29.47 and a 52-week high of $46.15.

APA (NASDAQ:APAGet Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.18). The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. APA had a return on equity of 62.64% and a net margin of 34.95%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. Sell-side analysts expect that APA will post 4.24 earnings per share for the current year.

Institutional Investors Weigh In On APA

Several institutional investors and hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. boosted its position in shares of APA by 171.4% during the 4th quarter. Nomura Holdings Inc. now owns 9,848 shares of the company’s stock worth $353,000 after acquiring an additional 23,648 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of APA in the 4th quarter valued at about $454,000. PNC Financial Services Group Inc. raised its stake in APA by 7.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,648 shares of the company’s stock valued at $1,494,000 after acquiring an additional 2,787 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in APA by 340.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 125,072 shares of the company’s stock valued at $4,488,000 after acquiring an additional 96,672 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in APA by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 42,643,529 shares of the company’s stock valued at $1,530,050,000 after acquiring an additional 924,400 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

APA Company Profile

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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.

Further Reading

Analyst Recommendations for APA (NASDAQ:APA)

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