Mizuho Cuts APA (NASDAQ:APA) Price Target to $19.00

APA (NASDAQ:APA) had its price target cut by Mizuho from $20.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the stock.

A number of other research firms have also weighed in on APA. Susquehanna cut their price objective on APA from $31.00 to $30.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley set a $20.00 price objective on APA and gave the stock an “underweight” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on APA from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company cut their price objective on APA from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, Barclays cut their price objective on APA from $25.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.37.

APA Stock Down 2.3%

Shares of NASDAQ APA opened at $17.76 on Tuesday. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 2.51 and a beta of 1.18. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. APA has a 52-week low of $13.58 and a 52-week high of $33.41. The business’s 50 day moving average is $17.54 and its two-hundred day moving average is $20.77.

APA (NASDAQ:APA) last announced its earnings results on Wednesday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. Research analysts predict that APA will post 4.03 EPS for the current year.

Institutional Investors Weigh In On APA

Hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. boosted its stake in shares of APA by 1,087.9% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,176 shares of the company’s stock worth $27,000 after buying an additional 1,077 shares during the period. Riverview Trust Co lifted its position in APA by 5,718.2% in the fourth quarter. Riverview Trust Co now owns 1,280 shares of the company’s stock valued at $30,000 after purchasing an additional 1,258 shares during the period. Wilmington Savings Fund Society FSB lifted its position in APA by 77.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,338 shares of the company’s stock valued at $31,000 after purchasing an additional 586 shares during the period. Golden State Wealth Management LLC lifted its position in APA by 2,709.8% in the first quarter. Golden State Wealth Management LLC now owns 1,433 shares of the company’s stock valued at $30,000 after purchasing an additional 1,382 shares during the period. Finally, Runnymede Capital Advisors Inc. acquired a new stake in APA in the fourth quarter valued at about $35,000. 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.