Citigroup Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price reduced by research analysts at Citigroup from $29.00 to $24.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 7.33% from the company’s previous close.

APA has been the subject of several other research reports. Royal Bank of Canada dropped their price objective on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. The Goldman Sachs Group decreased their target price on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. UBS Group cut their price objective on shares of APA from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Evercore ISI decreased their target price 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. Finally, Wells Fargo & Company lowered their price target on APA from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.57.

APA Trading Down 1.4 %

Shares of APA stock traded down $0.31 during trading hours on Tuesday, reaching $22.36. The stock had a trading volume of 776,448 shares, compared to its average volume of 6,268,747. The firm has a 50 day simple moving average of $24.31 and a two-hundred day simple moving average of $27.32. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 3.16 and a beta of 3.24. APA has a 1 year low of $21.15 and a 1 year high of $37.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03.

Institutional Trading of APA

Institutional investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC grew its stake in shares of APA by 12.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after buying an additional 3,411,270 shares in the last quarter. Harris Associates L P lifted its position in APA by 20.8% during the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after acquiring an additional 4,293,932 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company’s stock valued at $293,312,000 after acquiring an additional 485,291 shares during the period. Smead Capital Management Inc. grew its position in shares of APA by 3.5% in the third quarter. Smead Capital Management Inc. now owns 9,667,452 shares of the company’s stock valued at $236,466,000 after purchasing an additional 326,042 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of APA by 2.5% in the third quarter. Geode Capital Management LLC now owns 9,307,186 shares of the company’s stock worth $226,928,000 after purchasing an additional 224,547 shares during the period. 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.