JPMorgan Chase & Co. Cuts APA (NASDAQ:APA) Price Target to $27.00

APA (NASDAQ:APA) had its price objective cut by analysts at JPMorgan Chase & Co. from $36.00 to $27.00 in a research report issued to clients and investors on Friday. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.31% from the stock’s previous close.

Several other analysts have also commented on APA. Citigroup dropped their price target on shares of APA from $32.00 to $29.00 in a research report on Friday. Evercore ISI decreased their target price on APA from $39.00 to $33.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Mizuho cut their price target on shares of APA from $35.00 to $28.00 and set an “underperform” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $41.00 target price on shares of APA in a research report on Tuesday, September 17th. Finally, Wolfe Research began coverage on shares of APA in a research report on Thursday, July 18th. They set an “outperform” rating and a $42.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.18.

APA Stock Up 1.0 %

APA stock opened at $25.16 on Friday. APA has a twelve month low of $22.72 and a twelve month high of $43.58. The business has a fifty day moving average of $26.43 and a two-hundred day moving average of $29.06. The firm has a market cap of $9.34 billion, a P/E ratio of 2.81 and a beta of 3.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.04.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.22. APA had a net margin of 32.66% and a return on equity of 35.95%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, analysts forecast that APA will post 3.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in APA. Sunpointe LLC boosted its stake in APA by 2.8% during the second quarter. Sunpointe LLC now owns 13,297 shares of the company’s stock valued at $391,000 after buying an additional 362 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of APA by 12.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,558 shares of the company’s stock valued at $105,000 after purchasing an additional 380 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of APA by 6.7% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,860 shares of the company’s stock worth $202,000 after purchasing an additional 429 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of APA by 3.7% in the 1st quarter. Inspire Investing LLC now owns 12,932 shares of the company’s stock worth $445,000 after purchasing an additional 457 shares in the last quarter. Finally, American International Group Inc. lifted its stake in APA by 0.5% during the fourth quarter. American International Group Inc. now owns 86,458 shares of the company’s stock valued at $3,102,000 after purchasing an additional 461 shares during the last quarter. Institutional investors and hedge funds 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.