Piper Sandler Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA - Get Free Report) had its price objective cut by equities researchers at Piper Sandler from $28.00 to $26.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price target would indicate a potential upside of 15.76% from the company's current price.

A number of other brokerages have also issued reports on APA. Citigroup decreased their price target on APA from $32.00 to $29.00 in a research note on Friday, October 18th. The Goldman Sachs Group dropped their price target on shares of APA from $26.00 to $25.00 in a research report on Friday, October 18th. Susquehanna decreased their price target on shares of APA from $52.00 to $48.00 and set a "positive" rating on the stock in a report on Friday, October 18th. Royal Bank of Canada cut their target price on APA from $34.00 to $32.00 and set a "sector perform" rating on the stock in a research report on Monday, November 11th. Finally, Evercore ISI lowered their price target on 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 analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.81.

APA Trading Up 0.4 %

Shares of APA stock traded up $0.08 during trading hours on Monday, reaching $22.46. 5,568,216 shares of the company's stock were exchanged, compared to its average volume of 6,266,814. APA has a 52-week low of $21.15 and a 52-week high of $37.82. The company has a fifty day moving average of $24.46 and a 200-day moving average of $27.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 3.17 and a beta of 3.24.

Hedge Funds Weigh In On APA

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of APA by 4.7% during the first quarter. Vanguard Group Inc. now owns 44,648,084 shares of the company's stock worth $1,535,001,000 after purchasing an additional 2,004,555 shares during the last quarter. Woodstock Corp grew its position in shares of APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company's stock worth $7,540,000 after acquiring an additional 51,993 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of APA during the 2nd quarter valued at approximately $2,499,000. AQR Capital Management LLC boosted its holdings in APA by 112.6% in the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company's stock worth $42,092,000 after purchasing an additional 767,557 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of APA by 50.2% during the second quarter. Hsbc Holdings PLC now owns 985,596 shares of the company's stock worth $29,002,000 after purchasing an additional 329,462 shares during the period. 83.01% of the stock is owned by institutional investors and hedge funds.

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.