JPMorgan Chase & Co. Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective cut by analysts at JPMorgan Chase & Co. from $29.00 to $25.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 16.39% from the stock’s previous close.

A number of other brokerages also recently issued reports on APA. Truist Financial reduced their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Barclays dropped their price objective on shares of APA from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Friday, November 8th. 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 note on Monday. Scotiabank dropped their price objective on shares of APA from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group dropped their price objective on shares of APA from $35.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of “Hold” and an average target price of $33.41.

APA Price Performance

NASDAQ APA traded down $0.39 on Wednesday, reaching $21.48. The company had a trading volume of 594,442 shares, compared to its average volume of 6,230,954. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $7.95 billion, a PE ratio of 3.05 and a beta of 3.24. The firm’s 50 day moving average price is $24.71 and its 200 day moving average price is $27.84. APA has a 12 month low of $21.15 and a 12 month high of $38.27.

Institutional Investors Weigh In On APA

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in shares of APA by 75.4% in the first quarter. Covestor Ltd now owns 1,093 shares of the company’s stock valued at $38,000 after purchasing an additional 470 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in APA by 386.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,358 shares of the company’s stock worth $40,000 after acquiring an additional 1,079 shares in the last quarter. Rothschild Investment LLC acquired a new position in APA during the 2nd quarter worth approximately $42,000. GPS Wealth Strategies Group LLC grew its holdings in APA by 1,325.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,710 shares of the company’s stock worth $50,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Huntington National Bank grew its holdings in APA by 48.8% during the 3rd quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after acquiring an additional 561 shares in the last quarter. 83.01% of the stock is currently owned by institutional investors and hedge funds.

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.