Mizuho Lowers APA (NASDAQ:APA) Price Target to $19.00

APA (NASDAQ:APA - Free Report) had its target price cut by Mizuho from $20.00 to $19.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

Several other equities research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their target price on APA from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Piper Sandler reduced their price target on APA from $23.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Raymond James cut APA from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Susquehanna dropped their price objective on APA from $31.00 to $30.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays lowered their price objective on APA from $25.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.37.

APA Stock Down 1.0%

Shares of NASDAQ APA traded down $0.17 during mid-day trading on Tuesday, hitting $17.59. 6,010,167 shares of the stock traded hands, compared to its average volume of 7,008,246. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. APA has a 52 week low of $13.58 and a 52 week high of $33.41. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 2.48 and a beta of 1.18. The stock has a fifty day moving average price of $17.51 and a 200-day moving average price of $20.71.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.23. APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The firm's revenue was up 35.1% on a year-over-year basis. Research analysts anticipate that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Large investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its position in shares of APA by 1,087.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company's stock valued at $27,000 after purchasing an additional 1,077 shares during the period. Riverview Trust Co increased its position in APA by 5,718.2% during the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company's stock worth $30,000 after acquiring an additional 1,258 shares during the period. Golden State Wealth Management LLC increased its holdings in APA by 2,709.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company's stock valued at $30,000 after buying an additional 1,382 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in APA by 77.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company's stock valued at $31,000 after buying an additional 586 shares during the period. Finally, Rakuten Securities Inc. increased its holdings in APA by 499.2% in the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company's stock valued at $32,000 after buying an additional 1,288 shares during the period. Institutional investors own 83.01% of the company's stock.

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.