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APA (APA) Gains As Market Dips: What You Should Know
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APA (APA - Free Report) closed the most recent trading day at $46.08, moving +1.95% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the oil and natural gas producer had gained 38.31% over the past month, outpacing the Oils-Energy sector's gain of 16.17% and the S&P 500's gain of 4.58% 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 $1.92 per share. This would mark year-over-year growth of 95.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 57.89% from the year-ago period.
APA's full-year Zacks Consensus Estimates are calling for earnings of $8.40 per share and revenue of $11.1 billion. These results would represent year-over-year changes of +115.38% and +41.86%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 14.32% lower within the past month. APA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 5.38. For comparison, its industry has an average Forward P/E of 5.5, which means APA is trading at a discount to the group.
It is also worth noting that APA currently has a PEG ratio of 0.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. APA's industry had an average PEG ratio of 0.25 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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APA (APA) Gains As Market Dips: What You Should Know
APA (APA - Free Report) closed the most recent trading day at $46.08, moving +1.95% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.74%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq lost 0.01%.
Heading into today, shares of the oil and natural gas producer had gained 38.31% over the past month, outpacing the Oils-Energy sector's gain of 16.17% and the S&P 500's gain of 4.58% 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 $1.92 per share. This would mark year-over-year growth of 95.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 57.89% from the year-ago period.
APA's full-year Zacks Consensus Estimates are calling for earnings of $8.40 per share and revenue of $11.1 billion. These results would represent year-over-year changes of +115.38% and +41.86%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 14.32% lower within the past month. APA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 5.38. For comparison, its industry has an average Forward P/E of 5.5, which means APA is trading at a discount to the group.
It is also worth noting that APA currently has a PEG ratio of 0.19. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. APA's industry had an average PEG ratio of 0.25 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.