Citigroup Lowers APA (NASDAQ:APA) Price Target to $20.00

APA (NASDAQ:APA) had its target price reduced by research analysts at Citigroup from $24.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential downside of 0.84% from the company’s previous close.

Several other research firms have also recently weighed in on APA. The Goldman Sachs Group decreased their target price on APA from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Friday, January 3rd. Mizuho decreased their target price on APA from $25.00 to $24.00 and set an “underperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on APA from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. UBS Group decreased their target price on APA from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Raymond James cut APA from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $45.00 to $32.00 in a research note on Monday, March 10th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.60.

APA Stock Performance

Shares of APA stock opened at $20.17 on Monday. APA has a one year low of $17.66 and a one year high of $36.05. The company has a market cap of $7.34 billion, a PE ratio of 2.85 and a beta of 3.26. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.24 and a current ratio of 1.24. The business has a 50-day simple moving average of $22.15 and a 200-day simple moving average of $23.17.

APA (NASDAQ:APA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.18). APA had a return on equity of 27.86% and a net margin of 24.36%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.31 billion. On average, equities research analysts forecast that APA will post 4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APA. Harris Associates L P increased its holdings in shares of APA by 20.8% in the third quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock valued at $609,414,000 after purchasing an additional 4,293,932 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of APA by 12.6% in the third 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. Dimensional Fund Advisors LP increased its holdings in shares of APA by 33.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,186,244 shares of the company’s stock valued at $142,823,000 after purchasing an additional 1,540,055 shares during the period. Freestone Grove Partners LP acquired a new position in shares of APA in the fourth quarter valued at approximately $30,767,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of APA by 29.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,297,871 shares of the company’s stock valued at $122,328,000 after purchasing an additional 1,195,212 shares during the period. Institutional investors and hedge funds 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.