StockNews.com Adjusts APA Rating from Buy to Hold

Investment analysts at StockNews.com have revised their position on APA (NASDAQ:APA), pulling back from a previous 'buy' rating to now classifying it as a 'hold'. This change in stance was communicated in a research note released on Thursday, signaling a shift in their outlook on the company's stock.

Diverse Analyst Perspectives on APA

A mix of opinions from various equities research analysts suggests a varied sentiment for APA's stock. For instance, Piper Sandler adjusted APA's price target from $48.00 to $42.00, maintaining a 'neutral' rating. On the other hand, Jefferies Financial Group increased their price target from $39.00 to $43.00 while holding to a 'hold' rating as of August 28th. Meanwhile, Susquehanna expressed a positive outlook by setting their price objective at $53.00 from a former $54.00. Another viewpoint came from Benchmark, who reduced their price expectation to $43.00 from $46.00 but still retained a 'buy' rating. Not to be overlooked, Truist Financial maintained their 'buy' rating, accompanied by a $59.00 price target. A collective analysis from these various analysts gives APA an average 'Hold' rating and a consensus price target of $46.47, as per data from MarketBeat.com.

APA Stock Price Influence

The downgrade news affected APA's stock performance with shares opening at $34.03 on Thursday. Despite a PE ratio of 6.97 and a market capitalization of $10.44 billion, the firm's stock price has experienced fluctuations with a 52-week range between $30.67 and $48.14. Financial indicators reveal a debt-equity ratio of 2.65 and consistent current and quick ratios at 1.06. Additionally, APA's earnings surpass expectations with a reported EPS of $1.33 against the $1.08 estimate by analysts for the quarter. However, the company witnessed a 20.1% downturn in quarterly revenue year-over-year.

APA's Institutional Ties

Institutions have been active around APA's stock with various investors and hedge funds revising their stakes. Notable movements include new positions and increased holdings from entities like Cetera Advisor Networks LLC, Healthcare of Ontario Pension Plan Trust Fund, Acadian Asset Management LLC, Raymond James Trust N.A., and Dimensional Fund Advisors LP. Overall, institutional investors hold 80.48% of APA's stock.

About APA Corporation

APA Corporation, through its subsidiaries, is an operator in the oil and gas industry. It engages in the exploration, development, and production of natural gas, crude oil, and natural gas liquids, with operations spanning the United States, Egypt, the United Kingdom, and offshore Suriname. The company also has significant infrastructure in West Texas and holds stakes in four Permian Basin long-haul pipelines.

downgrade, hold, buy