The Goldman Sachs Group Issues Pessimistic Forecast for APA (NASDAQ:APA) Stock Price

APA (NASDAQ:APA) had its price objective cut by investment analysts at The Goldman Sachs Group from $25.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 5.17% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Barclays reduced their price target on APA from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Piper Sandler decreased their price target on shares of APA from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada decreased their target price on APA from $34.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 11th. Mizuho dropped their price target on APA from $25.00 to $24.00 and set an “underperform” rating on the stock in a research report on Monday, December 16th. Finally, Citigroup decreased their price objective on APA from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, APA has a consensus rating of “Hold” and an average price target of $31.00.

APA Trading Down 0.8 %

APA stock traded down $0.18 during trading hours on Friday, reaching $23.20. The stock had a trading volume of 931,827 shares, compared to its average volume of 2,760,434. The company has a fifty day simple moving average of $22.45 and a 200-day simple moving average of $25.89. APA has a 52 week low of $20.32 and a 52 week high of $36.04. The stock has a market cap of $8.58 billion, a PE ratio of 3.28 and a beta of 3.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.24 and a quick ratio of 1.24.

Insider Activity at APA

In other news, Director Juliet S. Ellis acquired 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now owns 12,436 shares in the company, valued at $283,292.08. The trade was a 54.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On APA

Several institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position in APA by 55.1% in the fourth quarter. GAMMA Investing LLC now owns 7,881 shares of the company’s stock worth $182,000 after acquiring an additional 2,800 shares during the period. Principal Financial Group Inc. increased its stake in shares of APA by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 456,922 shares of the company’s stock worth $11,176,000 after purchasing an additional 13,557 shares in the last quarter. Synovus Financial Corp raised its holdings in APA by 144.3% in the 3rd quarter. Synovus Financial Corp now owns 30,925 shares of the company’s stock worth $756,000 after purchasing an additional 18,268 shares during the period. Tidal Investments LLC lifted its position in APA by 154.2% during the third quarter. Tidal Investments LLC now owns 62,400 shares of the company’s stock valued at $1,526,000 after purchasing an additional 37,855 shares in the last quarter. Finally, PVG Asset Management Corp bought a new stake in APA during the third quarter valued at about $757,000. 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.