In the latest market close, APA (APA) reached $22.09, with a +1.14% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq decreased by 1.49%.
Prior to today's trading, shares of the oil and natural gas producer had lost 3.02% over the past month. This has was narrower than the Oils-Energy sector's loss of 8.07% and lagged the S&P 500's gain of 0.4% in that time.
Market participants will be closely following the financial results of APA in its upcoming release. The company is expected to report EPS of $0.99, down 13.91% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $2.28 billion, reflecting a 20.64% rise from the equivalent quarter last year.
APA's full-year Zacks Consensus Estimates are calling for earnings of $4.02 per share and revenue of $9.06 billion. These results would represent year-over-year changes of -11.26% and +10.88%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for APA. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.7% higher. APA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that APA has a Forward P/E ratio of 5.44 right now. Its industry sports an average Forward P/E of 10.02, so one might conclude that APA is trading at a discount comparatively.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 141, positioning it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
