Wells Fargo & Company Downgrades APA (NASDAQ:APA) to Equal Weight

APA (NASDAQ:APA - Get Free Report) was downgraded by stock analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $25.00 price objective on the stock, down from their previous price objective of $42.00. Wells Fargo & Company's price objective would suggest a potential upside of 18.76% from the company's previous close.

Other analysts also recently issued reports about the company. Barclays decreased their price target on APA from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Friday, November 8th. Evercore ISI reduced their target price on shares of APA from $39.00 to $33.00 and set an "in-line" rating for the company in a research note on Monday, September 30th. Scotiabank cut their price objective on APA from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Piper Sandler decreased their price target on APA from $28.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, November 18th. Finally, Mizuho dropped their target price on shares of APA from $25.00 to $24.00 and set an "underperform" rating for the company in a report on Monday. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $31.14.

APA Trading Down 4.1 %

NASDAQ:APA traded down $0.89 during trading hours on Tuesday, reaching $21.05. 10,227,939 shares of the stock were exchanged, compared to its average volume of 6,291,604. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 2.91 and a beta of 3.18. 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 business has a 50-day moving average of $23.41 and a two-hundred day moving average of $26.51. APA has a twelve month low of $20.45 and a twelve month high of $37.82.

Insider Buying and Selling

In related news, Director Juliet S. Ellis acquired 4,391 shares of the company's stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the purchase, the director now owns 12,436 shares in the company, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Woodstock Corp lifted its holdings in shares of APA by 20.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of APA by 4.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company's stock worth $293,312,000 after acquiring an additional 485,291 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in APA during the third quarter valued at $7,238,000. Ellis Investment Partners LLC bought a new position in shares of APA during the second quarter valued at $2,499,000. Finally, Victory Capital Management Inc. boosted its position in APA by 13.5% in the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company's stock worth $30,852,000 after purchasing an additional 149,762 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

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.