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

APA (NASDAQ:APA) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $29.00 to $25.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.39% from the stock’s current price.

Several other analysts also recently commented on the stock. Royal Bank of Canada reduced their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday. Susquehanna lowered their price target on shares of APA from $52.00 to $48.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Scotiabank lowered their price target 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. Truist Financial lowered their price target on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Mizuho lowered their price objective on shares of APA from $35.00 to $28.00 and set an “underperform” rating on the stock in a research note on Monday, September 16th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.41.

APA Stock Down 1.8 %

Shares of NASDAQ:APA traded down $0.39 during trading on Wednesday, hitting $21.48. 594,442 shares of the company were exchanged, compared to its average volume of 6,230,954. The stock has a market capitalization of $7.95 billion, a P/E ratio of 3.05 and a beta of 3.24. 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 has a 12-month low of $21.15 and a 12-month high of $38.27. The firm’s 50 day moving average price is $24.71 and its 200-day moving average price is $27.84.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APA. Russell Investments Group Ltd. grew its position in APA by 67.7% in the first quarter. Russell Investments Group Ltd. now owns 123,843 shares of the company’s stock valued at $4,257,000 after acquiring an additional 50,016 shares in the last quarter. US Bancorp DE boosted its holdings in APA by 16.3% in the first quarter. US Bancorp DE now owns 48,479 shares of the company’s stock worth $1,667,000 after purchasing an additional 6,807 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in APA by 22.9% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,626 shares of the company’s stock valued at $297,000 after buying an additional 1,610 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in APA by 10.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 392,790 shares of the company’s stock valued at $14,164,000 after buying an additional 37,212 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in APA by 23.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 365,474 shares of the company’s stock valued at $12,565,000 after buying an additional 68,244 shares during the last quarter. Hedge funds and other 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.