Piper Sandler Cuts APA (NASDAQ:APA) Price Target to $33.00

APA (NASDAQ:APA - Free Report) had its target price cut by Piper Sandler from $35.00 to $33.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on APA. Wells Fargo & Company initiated coverage on APA in a report on Wednesday, April 24th. They issued an overweight rating and a $55.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of APA from $35.00 to $31.00 and set a sell rating for the company in a report on Tuesday, March 26th. Royal Bank of Canada reiterated a sector perform rating and issued a $45.00 price objective on shares of APA in a report on Monday, April 8th. Mizuho lifted their target price on APA from $32.00 to $34.00 and gave the stock an underperform rating in a research report on Monday. Finally, Roth Mkm boosted their price target on APA from $37.00 to $39.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, APA presently has a consensus rating of Hold and an average price target of $42.20.

APA Trading Down 0.1 %

Shares of NASDAQ APA traded down $0.03 during trading on Tuesday, hitting $30.17. 4,326,290 shares of the company traded hands, compared to its average volume of 6,765,698. The firm has a market capitalization of $11.20 billion, a P/E ratio of 3.37 and a beta of 3.29. APA has a 1 year low of $28.90 and a 1 year high of $46.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a 50-day moving average price of $32.56 and a 200-day moving average price of $33.46.

APA (NASDAQ:APA - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.89 billion. APA had a return on equity of 45.32% and a net margin of 34.04%. APA's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. On average, equities analysts predict that APA will post 4.91 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC acquired a new stake in shares of APA during the third quarter valued at approximately $254,000. Fifth Third Bancorp boosted its position in shares of APA by 3.2% in the third quarter. Fifth Third Bancorp now owns 13,309 shares of the company's stock worth $547,000 after buying an additional 414 shares during the period. Teacher Retirement System of Texas grew its holdings in shares of APA by 66.6% during the third quarter. Teacher Retirement System of Texas now owns 80,254 shares of the company's stock valued at $3,298,000 after buying an additional 32,085 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of APA by 90.6% during the third quarter. Orion Portfolio Solutions LLC now owns 12,022 shares of the company's stock valued at $494,000 after buying an additional 5,713 shares in the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in APA by 2.6% in the 3rd quarter. New Mexico Educational Retirement Board now owns 16,049 shares of the company's stock worth $660,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds 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.