APA (NASDAQ:APA) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

APA (NASDAQ:APA) had its target price dropped by investment analysts at Wells Fargo & Company from $23.00 to $20.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 1.13% from the stock’s previous close.

A number of other research analysts also recently commented on APA. JPMorgan Chase & Co. lowered their price target on shares of APA from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group restated a “sell” rating and set a $23.00 price target on shares of APA in a report on Wednesday, March 19th. Citigroup boosted their price objective on shares of APA from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Argus upgraded shares of APA to a “hold” rating in a report on Friday, May 16th. Finally, Susquehanna reduced their price objective on shares of APA from $31.00 to $30.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.72.

APA Price Performance

Shares of APA stock traded down $0.78 during mid-day trading on Monday, hitting $20.23. The company had a trading volume of 3,380,217 shares, compared to its average volume of 7,058,679. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50 day moving average price is $16.88 and its 200-day moving average price is $20.04. APA has a 52-week low of $13.58 and a 52-week high of $33.41. The company has a market capitalization of $7.32 billion, a P/E ratio of 2.85 and a beta of 1.25.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its stake in APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after purchasing an additional 1,077 shares during the last quarter. Riverview Trust Co grew its holdings in APA by 5,718.2% in the 4th 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. Golden State Wealth Management LLC boosted its holdings in APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after acquiring an additional 1,382 shares during the last quarter. Rakuten Securities Inc. increased its position in APA by 499.2% during the 1st quarter. Rakuten Securities Inc. now owns 1,546 shares of the company’s stock worth $32,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in APA during the 4th quarter worth $35,000. 83.01% of the stock is currently 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.