The Goldman Sachs Group Lowers APA (NASDAQ:APA) Price Target to $22.00

APA (NASDAQ:APA) had its price objective dropped by The Goldman Sachs Group from $25.00 to $22.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 5.17% from the company’s current price.

Several other equities research analysts also recently commented on APA. JPMorgan Chase & Co. lowered their price objective on APA from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Royal Bank of Canada lowered their price target on shares of APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 11th. Barclays decreased 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 report on Friday, November 8th. Piper Sandler dropped their target price on shares of APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Finally, Mizuho cut their price target on shares of APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.00.

APA Price Performance

NASDAQ APA traded down $0.18 during trading on Friday, hitting $23.20. 931,827 shares of the company’s stock were exchanged, compared to its average volume of 2,760,434. The company has a market cap of $8.58 billion, a PE ratio of 3.28 and a beta of 3.19. 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 stock’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $25.89. APA has a fifty-two week low of $20.32 and a fifty-two week high of $36.04.

Insider Buying and Selling at APA

In other news, Director Juliet S. Ellis purchased 4,391 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $22.78 per share, with a total value of $100,026.98. Following the transaction, the director now directly owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On APA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of APA by 55.1% during the 4th quarter. GAMMA Investing LLC now owns 7,881 shares of the company’s stock valued at $182,000 after purchasing an additional 2,800 shares in the last quarter. Principal Financial Group Inc. increased its stake in APA by 3.1% in 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. Synovus Financial Corp raised its holdings in shares of APA by 144.3% in the 3rd quarter. Synovus Financial Corp now owns 30,925 shares of the company’s stock valued at $756,000 after acquiring an additional 18,268 shares in the last quarter. Tidal Investments LLC boosted its position in shares of APA by 154.2% during the 3rd quarter. Tidal Investments LLC now owns 62,400 shares of the company’s stock valued at $1,526,000 after acquiring an additional 37,855 shares during the last quarter. Finally, PVG Asset Management Corp purchased a new position in shares of APA during the third quarter worth about $757,000. 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.