APA (NASDAQ:APA) Price Target Cut to $23.00 by Analysts at Piper Sandler

APA (NASDAQ:APA) had its price objective dropped by analysts at Piper Sandler from $26.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target suggests a potential upside of 11.54% from the stock’s previous close.

APA has been the topic of several other research reports. Truist Financial dropped their price target on APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their price target on shares of APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Scotiabank cut their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna decreased their price target on APA from $52.00 to $48.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.14.

APA Stock Down 6.0 %

Shares of APA traded down $1.32 during mid-day trading on Tuesday, hitting $20.62. The company’s stock had a trading volume of 3,394,340 shares, compared to its average volume of 6,262,378. APA has a 52-week low of $20.57 and a 52-week high of $37.82. The company’s 50-day moving average is $23.41 and its 200-day moving average is $26.51. 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 $7.63 billion, a price-to-earnings ratio of 2.91 and a beta of 3.18.

Insider Transactions at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the acquisition, the director now owns 12,436 shares of the company’s stock, valued at $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On APA

Institutional investors have recently bought and sold shares of the company. TD Private Client Wealth LLC boosted its stake in shares of APA by 84.1% in the third quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after purchasing an additional 540 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in APA by 386.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock valued at $40,000 after buying an additional 1,079 shares during the period. Rothschild Investment LLC acquired a new position in shares of APA in the second quarter worth $42,000. Huntington National Bank raised its stake in shares of APA by 48.8% in the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock valued at $42,000 after acquiring an additional 561 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of APA by 164.2% in the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after acquiring an additional 1,604 shares in the last quarter. 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.