APA (NASDAQ:APA) Receives “Sector Perform” Rating from Royal Bank of Canada

APA (NASDAQ:APA)‘s stock had its “sector perform” rating reiterated by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They currently have a $32.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 35.79% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Bernstein Bank cut their price target on shares of APA from $30.00 to $28.00 in a report on Friday, October 18th. Piper Sandler lowered their price target on APA from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Susquehanna decreased their price objective on APA from $52.00 to $48.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company downgraded shares of APA from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $25.00 in a research note on Tuesday, December 17th. Finally, Truist Financial decreased their target price on shares of APA from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, APA presently has a consensus rating of “Hold” and an average target price of $30.55.

APA Stock Performance

Shares of NASDAQ:APA traded up $0.21 during midday trading on Thursday, reaching $23.57. 2,717,832 shares of the company traded hands, compared to its average volume of 6,107,157. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 3.33 and a beta of 3.16. APA has a 12 month low of $20.32 and a 12 month high of $36.04. The firm’s fifty day moving average price is $22.73 and its two-hundred day moving average price is $25.40.

Insider Activity

In other APA news, Director Juliet S. Ellis purchased 4,391 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares of the company’s stock, valued at approximately $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of APA

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Private Client Wealth LLC grew its stake in shares of APA by 84.1% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,182 shares of the company’s stock valued at $29,000 after acquiring an additional 540 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of APA by 93.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,614 shares of the company’s stock worth $37,000 after acquiring an additional 780 shares during the period. Huntington National Bank grew its position in shares of APA by 48.8% during the third quarter. Huntington National Bank now owns 1,710 shares of the company’s stock worth $42,000 after purchasing an additional 561 shares in the last quarter. Eastern Bank boosted its stake in APA by 355.0% in the 4th quarter. Eastern Bank now owns 2,275 shares of the company’s stock worth $53,000 after purchasing an additional 1,775 shares during the period. Finally, Blue Trust Inc. raised its position in shares of APA by 164.2% during the third quarter. Blue Trust Inc. now owns 2,581 shares of the company’s stock valued at $63,000 after buying an additional 1,604 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.