Truist Financial Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price reduced by equities researchers at Truist Financial from $36.00 to $33.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 49.66% from the company’s previous close.

APA has been the subject of several other research reports. Susquehanna reduced their target price on shares of APA from $52.00 to $48.00 and set a “positive” rating for the company in a report on Friday, October 18th. Evercore ISI reduced their price objective on APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $41.00 price objective on shares of APA in a report on Tuesday, September 17th. The Goldman Sachs Group dropped their target price on APA from $26.00 to $25.00 in a report on Friday, October 18th. Finally, Wolfe Research began coverage on APA in a report on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price target for the company. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.05.

APA Stock Performance

APA traded up $0.12 on Friday, reaching $22.05. 992,716 shares of the stock were exchanged, compared to its average volume of 6,195,470. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average price is $25.07 and its 200 day moving average price is $28.12. The firm has a market capitalization of $8.16 billion, a PE ratio of 2.39 and a beta of 3.24. APA has a fifty-two week low of $21.77 and a fifty-two week high of $38.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APA. Covestor Ltd boosted its holdings in shares of APA by 75.4% during the 1st quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after purchasing an additional 470 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in APA by 386.7% during the second 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 APA in the 2nd quarter valued at $42,000. Huntington National Bank increased 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 acquiring an additional 561 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock valued at $50,000 after acquiring an additional 1,590 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.