Mizuho Has Lowered Expectations for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its target price lowered by research analysts at Mizuho from $25.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s price target suggests a potential upside of 4.99% from the stock’s previous close.

A number of other analysts have also issued reports on APA. JPMorgan Chase & Co. dropped their price objective on shares of APA from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. UBS Group cut their target price on APA from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their price target on shares of APA from $28.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company reduced their price objective on shares of APA from $49.00 to $47.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Truist Financial decreased their price objective on shares of APA from $36.00 to $33.00 and set a “buy” rating for the company in a report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, APA currently has an average rating of “Hold” and an average target price of $32.33.

APA Price Performance

APA stock opened at $22.86 on Monday. 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 $8.46 billion, a P/E ratio of 3.23 and a beta of 3.18. The firm has a fifty day moving average of $23.51 and a 200-day moving average of $26.56. APA has a 52-week low of $20.95 and a 52-week high of $37.82.

Insider Buying and Selling

In other APA news, Director Juliet S. Ellis bought 4,391 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 12,436 shares of the company’s stock, valued at $283,292.08. This trade represents a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of APA

A number of large investors have recently added to or reduced their stakes in APA. Harris Associates L P increased its stake in APA by 20.8% in the 3rd quarter. Harris Associates L P now owns 24,914,700 shares of the company’s stock worth $609,414,000 after purchasing an additional 4,293,932 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted 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 worth $745,341,000 after buying an additional 3,411,270 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of APA by 131.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,813,655 shares of the company’s stock worth $141,704,000 after buying an additional 2,736,041 shares during the period. Mizuho Securities USA LLC increased its position in shares of APA by 3,450.8% in the third quarter. Mizuho Securities USA LLC now owns 985,907 shares of the company’s stock worth $24,115,000 after acquiring an additional 958,141 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of APA by 112.6% during the second quarter. AQR Capital Management LLC now owns 1,448,935 shares of the company’s stock valued at $42,092,000 after acquiring an additional 767,557 shares during the period. 83.01% of the stock is currently owned by institutional investors.

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.