APA (NASDAQ:APA) Price Target Lowered to $20.00 at Citigroup

APA (NASDAQ:APA) had its price objective cut by equities researchers at Citigroup from $24.00 to $20.00 in a report released on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential downside of 0.24% from the company’s previous close.

A number of other analysts have also recently commented on APA. UBS Group lowered their target price 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. Mizuho reduced their target price on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lowered APA from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $42.00 to $25.00 in a research report on Tuesday, December 17th. Raymond James downgraded APA from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $45.00 to $32.00 in a research report on Monday, March 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $32.00 price target on shares of APA in a report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.70.

APA Stock Performance

Shares of NASDAQ APA traded up $0.44 during midday trading on Monday, hitting $20.05. 3,797,946 shares of the stock traded hands, compared to its average volume of 6,441,686. 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 one year low of $17.66 and a one year high of $36.05. The firm has a market capitalization of $7.30 billion, a P/E ratio of 2.83 and a beta of 3.26. The firm has a 50-day moving average of $22.29 and a two-hundred day moving average of $23.29.

APA (NASDAQ:APA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.18). The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.31 billion. APA had a return on equity of 27.86% and a net margin of 24.36%. On average, equities analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On APA

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in APA by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock worth $11,176,000 after acquiring an additional 13,557 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of APA in the third quarter valued at approximately $281,000. Oppenheimer & Co. Inc. increased its position in APA by 13.6% in the third quarter. Oppenheimer & Co. Inc. now owns 75,655 shares of the company’s stock worth $1,851,000 after buying an additional 9,081 shares during the last quarter. Huntington National Bank increased 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 during the period. Finally, ING Groep NV raised its holdings in shares of APA by 1.7% in the 3rd quarter. ING Groep NV now owns 61,382 shares of the company’s stock valued at $1,501,000 after acquiring an additional 1,021 shares in the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.

About APA

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.