Mizuho Lowers APA (NASDAQ:APA) Price Target to $19.00

APA (NASDAQ:APA) had its price target reduced by Mizuho from $20.00 to $19.00 in a report issued on Tuesday morning,Benzinga reports. Mizuho currently has an underperform rating on the stock.

Several other research analysts also recently issued reports on APA. Susquehanna cut their price objective on APA from $31.00 to $30.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut their price objective on APA from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Citigroup cut their price objective on APA from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group restated a “sell” rating and set a $23.00 price objective on shares of APA in a research report on Wednesday, March 19th. Finally, Scotiabank cut their price objective on APA from $26.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.37.

APA Price Performance

APA stock opened at $17.76 on Tuesday. The firm has a 50 day moving average of $17.54 and a 200-day moving average of $20.77. APA has a 12-month low of $13.58 and a 12-month high of $33.41. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.03. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 2.51 and a beta of 1.18.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23. APA had a net margin of 24.36% and a return on equity of 27.86%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities analysts expect that APA will post 4.03 EPS for the current fiscal year.

Institutional Trading of APA

Several institutional investors have recently made changes to their positions in APA. Principal Financial Group Inc. grew its stake in shares of APA by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock valued at $11,176,000 after buying an additional 13,557 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of APA by 2.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 32,387 shares of the company’s stock valued at $748,000 after buying an additional 922 shares during the period. Czech National Bank grew its stake in shares of APA by 6.4% during the 4th quarter. Czech National Bank now owns 80,212 shares of the company’s stock valued at $1,852,000 after buying an additional 4,859 shares during the period. Eastern Bank lifted its holdings in shares of APA by 355.0% during the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock valued at $53,000 after acquiring an additional 1,775 shares in the last quarter. Finally, Foundation Resource Management Inc. lifted its holdings in shares of APA by 5.2% during the 4th quarter. Foundation Resource Management Inc. now owns 159,319 shares of the company’s stock valued at $3,679,000 after acquiring an additional 7,884 shares in the last quarter. 83.01% of the stock is owned by hedge funds and other 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.