APA (NASDAQ:APA) Given New $27.00 Price Target at Barclays

APA (NASDAQ:APA) had its price objective dropped by 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 price objective would suggest a potential upside of 26.88% from the stock’s current price.

Several other research analysts have also recently weighed in on APA. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $41.00 target price on shares of APA in a research note on Tuesday, September 17th. Citigroup reduced their price objective on shares of APA from $32.00 to $29.00 in a research report on Friday, October 18th. Wells Fargo & Company lowered their price objective on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Wolfe Research began coverage on shares of APA in a research note on Thursday, July 18th. They set an “outperform” rating and a $42.00 target price for the company. Finally, Bernstein Bank decreased their price target on shares of APA from $30.00 to $28.00 in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.91.

APA Price Performance

APA traded down $0.65 during trading on Friday, reaching $21.28. The stock had a trading volume of 6,917,319 shares, compared to its average volume of 6,221,448. The stock has a 50 day moving average of $25.07 and a two-hundred day moving average of $28.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 2.32 and a beta of 3.24. APA has a 1-year low of $21.15 and a 1-year high of $38.27.

Institutional Trading of APA

A number of institutional investors and hedge funds have recently modified their holdings of APA. Vanguard Group Inc. raised its position in APA by 4.7% in 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 in the last quarter. Smead Capital Management Inc. raised its holdings in shares of APA by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock worth $236,466,000 after buying an additional 326,042 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of APA by 131.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after buying an additional 2,736,041 shares during the period. Bank of New York Mellon Corp boosted its stake in APA by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,358,192 shares of the company’s stock valued at $98,865,000 after buying an additional 455,312 shares in the last quarter. Finally, LSV Asset Management grew its position in APA by 4.9% in the second quarter. LSV Asset Management now owns 2,757,900 shares of the company’s stock valued at $81,193,000 after acquiring an additional 129,841 shares during the period. 83.01% of the stock is currently owned by institutional investors.

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.