In the latest trading session, APA (APA) closed at $36.78, marking a -3.21% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.75%. Elsewhere, the Dow saw an upswing of 1.86%, while the tech-heavy Nasdaq appreciated by 2.54%.
Shares of the oil and natural gas producer have appreciated by 2.79% over the course of the past month, outperforming the Oils-Energy sector's loss of 0.13%, and the S&P 500's loss of 1.63%.
The upcoming earnings release of APA will be of great interest to investors. The company is predicted to post an EPS of $1.78, indicating a 104.6% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $2.49 billion, reflecting a 4.49% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.59 per share and revenue of $9.28 billion, which would represent changes of +48.28% and +0.64%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for APA. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.72% lower within the past month. APA presently features a Zacks Rank of #3 (Hold).
With respect to valuation, APA is currently being traded at a Forward P/E ratio of 6.8. This indicates a discount in contrast to its industry's Forward P/E of 9.87.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 109, placing it within the top 45% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.
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APA Corporation (APA): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).