Citigroup Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective reduced by investment analysts at Citigroup from $24.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential downside of 0.24% from the company’s current price.

Several other equities analysts also recently commented on the stock. UBS Group dropped their price target on shares of APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Susquehanna decreased their price objective on APA from $33.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, March 3rd. Piper Sandler lowered their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Finally, The Goldman Sachs Group cut their target price on APA from $25.00 to $22.00 and set a “sell” rating on the stock in a research report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.70.

APA Price Performance

Shares of NASDAQ:APA traded up $0.44 during midday trading on Monday, hitting $20.05. The company had a trading volume of 3,797,946 shares, compared to its average volume of 6,441,686. APA has a twelve month low of $17.66 and a twelve month high of $36.05. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 2.83 and a beta of 3.26. The business’s 50-day simple moving average is $22.29 and its 200-day simple moving average is $23.29. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

APA (NASDAQ:APA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. On average, research analysts predict that APA will post 4.03 earnings per share for the current year.

Institutional Trading of APA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its holdings in APA by 1,087.9% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock valued at $27,000 after buying an additional 1,077 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of APA by 84.1% during the 3rd 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 last quarter. Riverview Trust Co boosted 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 valued at $30,000 after buying an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of 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 acquiring an additional 586 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in APA during the 4th quarter worth approximately $35,000. 83.01% of the stock is 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.