APA (NASDAQ:APA) Given New $23.00 Price Target at Wells Fargo & Company

APA (NASDAQ:APA) had its price target reduced by research analysts at Wells Fargo & Company from $25.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 10.10% from the stock’s previous close.

A number of other equities research analysts have also weighed in on APA. Barclays lowered their target price on shares of APA from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th. Mizuho dropped their target price on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. UBS Group dropped their price objective on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, The Goldman Sachs Group reduced their target price on shares of APA from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.50.

APA Stock Up 0.2 %

Shares of NASDAQ:APA opened at $20.89 on Wednesday. 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 52-week low of $17.66 and a 52-week high of $36.05. The business’s 50 day simple moving average is $21.82 and its two-hundred day simple moving average is $22.97. The firm has a market cap of $7.61 billion, a P/E ratio of 2.95 and a beta of 3.26.

APA (NASDAQ:APA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.18). APA had a net margin of 24.36% and a return on equity of 27.86%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.31 billion. As a group, research analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On APA

Institutional investors have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of APA by 12.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,471,834 shares of the company’s stock valued at $745,341,000 after purchasing an additional 3,411,270 shares during the period. Harris Associates L P increased its position in shares of APA by 20.8% during the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after buying an additional 4,293,932 shares during the period. Invesco Ltd. lifted its holdings in shares of APA by 6.9% in the fourth quarter. Invesco Ltd. now owns 13,230,751 shares of the company’s stock worth $305,498,000 after buying an additional 850,052 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of APA by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,886,087 shares of the company’s stock valued at $297,540,000 after acquiring an additional 894,574 shares during the period. Finally, Geode Capital Management LLC grew its stake in APA by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 9,507,956 shares of the company’s stock valued at $219,016,000 after acquiring an additional 200,770 shares in the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

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.