APA slides as oil prices fall and investors digest Q1 details, including Permian gas curtailments

APA Corporation (APA) is down 5.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a broad pullback in crude prices, which tends to pressure E&P equities like APA. Investors also appeared to focus on less favorable items embedded in APA’s recent Q1 update, including weak/negative Permian gas pricing that led to curtailments and some quarter-over-quarter production declines despite solid headline earnings and free cash flow.

Details:

Crude prices fell sharply on renewed optimism about improved Middle East supply conditions, weighing on energy shares broadly.

APA’s May 6, 2026 Q1 release (furnished in a Form 8-K) showed reported production of 442 Mboe/d in the quarter, with U.S. volumes down versus the prior quarter on a BOE basis even as U.S. oil production exceeded prior guidance.

APA disclosed earlier that it curtailed roughly 88 MMcf/d of U.S. natural gas and about 6,800 bbl/d of NGLs in Q1 in response to weak or negative Waha hub pricing, highlighting ongoing regional price pressure.

APA also flagged Q1 items such as a realized loss on commodity derivatives and elevated G&A that included higher stock-based compensation, which may have tempered the market’s reaction.

Sources:

U.S. SEC (EDGAR), APA Corporation Investor Relations, Associated Press

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$APA Insider Trading Activity

$APA insiders have traded $APA stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $APA stock by insiders over the last 6 months:

MATTHEW REGIS BOB sold 23,000 shares for an estimated $833,372

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

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$APA Hedge Fund Activity

We have seen 392 institutional investors add shares of $APA stock to their portfolio, and 325 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

HARRIS ASSOCIATES L P removed 13,361,120 shares (-53.4%) from their portfolio in Q4 2025, for an estimated $326,812,995
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 7,410,084 shares (-75.9%) from their portfolio in Q4 2025, for an estimated $181,250,654
FMR LLC added 6,480,422 shares (+141.9%) to their portfolio in Q4 2025, for an estimated $158,511,122
PACER ADVISORS, INC. removed 3,218,431 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $78,722,822
MORGAN STANLEY added 1,864,900 shares (+21.8%) to their portfolio in Q4 2025, for an estimated $45,615,454
TWO SIGMA ADVISERS, LP removed 1,797,115 shares (-88.9%) from their portfolio in Q4 2025, for an estimated $43,957,432
DIMENSIONAL FUND ADVISORS LP added 1,291,706 shares (+9.2%) to their portfolio in Q4 2025, for an estimated $31,595,128

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$APA Congressional Stock Trading

Members of Congress have traded $APA stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $APA stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. sold up to $15,000 on 01/09.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

$APA Analyst Ratings

Wall Street analysts have issued reports on $APA in the last several months. We have seen 0 firms issue buy ratings on the stock, and 3 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Underweight" rating on 01/21/2026
Mizuho issued a "Underperform" rating on 12/12/2025
Goldman Sachs issued a "Sell" rating on 11/21/2025

To track analyst ratings and price targets for $APA, check out Quiver Quantitative's $APA forecast page.

$APA Price Targets

Multiple analysts have issued price targets for $APA recently. We have seen 19 analysts offer price targets for $APA in the last 6 months, with a median target of $35.0.

Here are some recent targets:

William Janela from Mizuho set a target price of $32.0 on 05/07/2026
Paul Cheng from Scotiabank set a target price of $36.0 on 04/22/2026
Gabe Daoud from Truist Securities set a target price of $39.0 on 04/20/2026
Josh Silverstein from UBS set a target price of $45.0 on 04/17/2026
Sam Margolin from Wells Fargo set a target price of $39.0 on 04/09/2026
Scott Gruber from Citigroup set a target price of $45.0 on 03/30/2026
Devin McDermott from Morgan Stanley set a target price of $43.0 on 03/27/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.