Piper Sandler has adjusted its price target for APA Corp. (APA, Financial), lowering it from $23 to $22 while maintaining a Neutral rating on the stock. The decision comes as the firm evaluates the current complex market conditions characterized by trade tensions, overall macroeconomic uncertainties, and increased oil supply from OPEC+. Additionally, the seasonal fluctuation in natural gas markets adds to the challenging environment.
Despite these headwinds, the firm notes that such market volatility can create opportunities for investors, especially in companies with substantial low-cost inventories and robust balance sheets. However, given the current dynamics, Piper Sandler expresses a slightly stronger preference for oil over gas sector investments as the first quarter approaches.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for APA Corp (APA, Financial) is $24.30 with a high estimate of $36.00 and a low estimate of $14.00. The average target implies an upside of 56.76% from the current price of $15.50. More detailed estimate data can be found on the APA Corp (APA) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, APA Corp's (APA, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for APA Corp (APA, Financial) in one year is $28.35, suggesting a upside of 82.9% from the current price of $15.5. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the APA Corp (APA) Summary page.
