APA (NASDAQ:APA - Get Free Report)'s stock had its "sector perform" rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $32.00 price objective on the stock. Royal Bank of Canada's target price would suggest a potential upside of 25.74% from the stock's previous close.
Several other brokerages also recently commented on APA. The Goldman Sachs Group lowered their price objective on shares of APA from $25.00 to $22.00 and set a "sell" rating for the company in a research note on Friday, January 3rd. Susquehanna lowered their price target on APA from $52.00 to $48.00 and set a "positive" rating for the company in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on APA from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, November 13th. Barclays reduced their target price on APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Friday, November 8th. Finally, Scotiabank dropped their price target 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. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, APA currently has an average rating of "Hold" and a consensus target price of $30.55.
View Our Latest Stock Analysis on APA
APA Trading Up 2.4 %
Shares of APA stock traded up $0.60 on Wednesday, hitting $25.45. The stock had a trading volume of 7,862,071 shares, compared to its average volume of 5,922,372. The stock's 50-day simple moving average is $22.49 and its two-hundred day simple moving average is $25.58. APA has a one year low of $20.32 and a one year high of $36.04. 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 stock has a market cap of $9.42 billion, a price-to-earnings ratio of 3.59 and a beta of 3.16.
Insider Activity
In related news, Director Juliet S. Ellis purchased 4,391 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares in the company, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company's stock.
Institutional Trading of APA
Several institutional investors have recently bought and sold shares of the company. Empirical Asset Management LLC boosted its stake in APA by 364.7% during the 4th quarter. Empirical Asset Management LLC now owns 39,114 shares of the company's stock valued at $903,000 after purchasing an additional 30,697 shares during the last quarter. Bernzott Capital Advisors lifted its holdings in shares of APA by 1.8% during the fourth quarter. Bernzott Capital Advisors now owns 195,235 shares of the company's stock valued at $4,508,000 after purchasing an additional 3,450 shares in the last quarter. Foundation Resource Management Inc. boosted its position in shares of APA by 5.2% during the fourth quarter. Foundation Resource Management Inc. now owns 159,319 shares of the company's stock valued at $3,679,000 after buying an additional 7,884 shares during the last quarter. Eastern Bank increased its holdings 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 buying an additional 1,775 shares in the last quarter. Finally, Czech National Bank raised its position in APA by 6.4% in the 4th quarter. Czech National Bank now owns 80,212 shares of the company's stock worth $1,852,000 after buying an additional 4,859 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.
About APA
(
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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.
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