APA (NASDAQ:APA) Receives Sector Perform Rating from Royal Bank of Canada

APA (NASDAQ:APA)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research note issued on Wednesday,Benzinga reports. They presently have a $32.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 26.98% from the company’s previous close.

Several other analysts also recently issued reports on APA. Truist Financial lowered their price target on APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Scotiabank lowered their target price on APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Evercore ISI reduced their price target on shares of APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Finally, Mizuho reduced their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.55.

APA Trading Up 1.4 %

Shares of APA stock traded up $0.35 on Wednesday, reaching $25.20. 346,695 shares of the stock were exchanged, compared to its average volume of 5,083,143. The stock has a market cap of $9.32 billion, a P/E ratio of 3.56 and a beta of 3.16. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $22.47 and a two-hundred day moving average of $25.61. APA has a 1-year low of $20.32 and a 1-year high of $36.04.

Insider Activity at APA

In related news, Director Juliet S. Ellis acquired 4,391 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the purchase, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC grew its position in APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock worth $29,000 after buying an additional 540 shares during the last quarter. Huntington National Bank boosted 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 purchasing an additional 561 shares during the period. Eastern Bank boosted its stake in APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock worth $53,000 after purchasing an additional 1,775 shares during the period. Blue Trust Inc. boosted its stake in APA by 164.2% in the 3rd quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock worth $63,000 after purchasing an additional 1,604 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in APA in the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds 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.