APA (NASDAQ:APA) Price Target Lowered to $19.00 at Mizuho

APA (NASDAQ:APA) had its price objective lowered by Mizuho from $20.00 to $19.00 in a research report released on Tuesday,Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other brokerages also recently weighed in on APA. Barclays cut their price target on shares of APA from $25.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Raymond James cut shares of APA from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $45.00 to $32.00 in a research report on Monday, March 10th. Wells Fargo & Company lowered their price objective on shares of APA from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. reduced their target price on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley set a $20.00 price target on APA and gave the stock an “underweight” rating in a report on Tuesday, April 15th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, APA presently has an average rating of “Hold” and an average price target of $25.37.

APA Price Performance

APA opened at $18.46 on Tuesday. The company has a fifty day moving average price of $17.58 and a two-hundred day moving average price of $20.83. The firm has a market capitalization of $6.68 billion, a PE ratio of 2.61 and a beta of 1.18. APA has a 52 week low of $13.58 and a 52 week high of $33.41. 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 (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, analysts anticipate that APA will post 4.03 earnings per share for the current year.

Institutional Trading of APA

A number of institutional investors have recently made changes to their positions in APA. Brooklyn Investment Group grew its position in APA by 694.2% in the first quarter. Brooklyn Investment Group now owns 4,543 shares of the company’s stock valued at $95,000 after purchasing an additional 3,971 shares in the last quarter. Versor Investments LP acquired a new position in shares of APA during the 1st quarter worth about $2,014,000. Raymond James Financial Inc. grew its holdings in shares of APA by 2.0% in the 1st quarter. Raymond James Financial Inc. now owns 641,750 shares of the company’s stock valued at $13,490,000 after acquiring an additional 12,746 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of APA by 5.1% in the 1st quarter. American Century Companies Inc. now owns 733,038 shares of the company’s stock valued at $15,408,000 after acquiring an additional 35,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of APA by 46.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,080,787 shares of the company’s stock valued at $190,876,000 after acquiring an additional 2,894,543 shares during the last quarter. 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.