Barclays Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price decreased by investment analysts at Barclays from $30.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 26.88% from the stock’s current price.

A number of other research firms have also commented on APA. Wolfe Research assumed coverage on APA in a research note on Thursday, July 18th. They issued an “outperform” rating and a $42.00 price objective on the stock. Truist Financial reduced their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of APA from $36.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, October 18th. Citigroup dropped their target price on shares of APA from $32.00 to $29.00 in a research note on Friday, October 18th. Finally, Evercore ISI dropped their price objective on shares of APA from $39.00 to $33.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.91.

APA Price Performance

Shares of APA traded down $0.65 on Friday, hitting $21.28. The company’s stock had a trading volume of 6,917,319 shares, compared to its average volume of 6,221,448. The company has a market capitalization of $7.87 billion, a PE ratio of 2.32 and a beta of 3.24. APA has a fifty-two week low of $21.15 and a fifty-two week high of $38.27. The company has a 50 day moving average price of $25.07 and a 200 day moving average price of $28.12. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.01 and a quick ratio of 1.01.

Institutional Investors Weigh In On APA

Large investors have recently bought and sold shares of the company. Sunpointe LLC grew its holdings in shares of APA by 2.8% in the 2nd quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after buying an additional 362 shares during the period. GAMMA Investing LLC increased its stake in APA by 12.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock worth $105,000 after purchasing an additional 380 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in APA by 6.7% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after buying an additional 429 shares during the period. Inspire Investing LLC lifted its stake in APA by 3.7% in the first quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock valued at $445,000 after buying an additional 457 shares in the last quarter. Finally, 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 valued at $38,000 after buying an additional 470 shares during the period. Institutional investors own 83.01% of the company’s stock.

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.