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APA (APA) Dips More Than Broader Markets: What You Should Know
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APA (APA - Free Report) closed at $41.51 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the oil and natural gas producer had gained 9.06% over the past month, outpacing the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 2, 2022. In that report, analysts expect APA to post earnings of $2.03 per share. This would mark year-over-year growth of 107.14%. Meanwhile, our latest consensus estimate is calling for revenue of $2.62 billion, up 58.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.60 per share and revenue of $10.95 billion, which would represent changes of +120.51% and +39.97%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.28% lower within the past month. APA is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 4.87. This valuation marks a discount compared to its industry's average Forward P/E of 5.3.
It is also worth noting that APA currently has a PEG ratio of 0.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.24 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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APA (APA) Dips More Than Broader Markets: What You Should Know
APA (APA - Free Report) closed at $41.51 in the latest trading session, marking a -0.95% move from the prior day. This change lagged the S&P 500's 0.8% loss on the day. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Heading into today, shares of the oil and natural gas producer had gained 9.06% over the past month, outpacing the Oils-Energy sector's gain of 3.38% and the S&P 500's loss of 5.13% in that time.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 2, 2022. In that report, analysts expect APA to post earnings of $2.03 per share. This would mark year-over-year growth of 107.14%. Meanwhile, our latest consensus estimate is calling for revenue of $2.62 billion, up 58.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.60 per share and revenue of $10.95 billion, which would represent changes of +120.51% and +39.97%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 12.28% lower within the past month. APA is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 4.87. This valuation marks a discount compared to its industry's average Forward P/E of 5.3.
It is also worth noting that APA currently has a PEG ratio of 0.17. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.24 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.