APA (NASDAQ:APA) Price Target Cut to $28.00 by Analysts at Piper Sandler

APA (NASDAQ:APA) had its target price reduced by stock analysts at Piper Sandler from $29.00 to $28.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 4.87% from the company’s previous close.

APA has been the subject of several other reports. Evercore ISI cut their target price 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. Sanford C. Bernstein reduced their price objective on APA from $37.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Susquehanna decreased their target price on APA from $57.00 to $52.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 price target on shares of APA in a report on Tuesday, September 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $34.86.

APA Stock Performance

APA opened at $26.70 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.01. APA has a 52-week low of $22.72 and a 52-week high of $43.58. The firm has a market cap of $9.91 billion, a P/E ratio of 2.99 and a beta of 3.23. The business’s fifty day moving average is $26.65 and its 200-day moving average is $29.31.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.22. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.28 billion. APA had a net margin of 32.66% and a return on equity of 35.95%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Sell-side analysts expect that APA will post 3.97 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Large investors have recently modified their holdings of the company. American National Bank grew its stake in APA by 208.5% in the first quarter. American National Bank now owns 725 shares of the company’s stock valued at $25,000 after acquiring an additional 490 shares during the period. Covestor Ltd boosted its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock worth $38,000 after acquiring an additional 470 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after purchasing an additional 1,079 shares in the last quarter. Rothschild Investment LLC purchased a new position in APA during the 2nd quarter valued at about $42,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in APA by 1,325.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after purchasing an additional 1,590 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.