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Apache (APA) Stock Sinks As Market Gains: What You Should Know
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Apache (APA - Free Report) closed the most recent trading day at $28.65, moving -1.31% from the previous trading session. This change lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Prior to today's trading, shares of the oil and natural gas producer had gained 8.89% over the past month. This has outpaced the Oils-Energy sector's gain of 3.31% and the S&P 500's gain of 3.19% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. On that day, APA is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 12.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1 per share and revenue of $6.94 billion, which would represent changes of -43.5% and -6.41%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for APA. These recent revisions tend to reflect the evolving nature of short-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection has moved 11.35% lower. APA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 29.03. For comparison, its industry has an average Forward P/E of 11.18, which means APA is trading at a premium to the group.
Also, we should mention that APA has a PEG ratio of 4.84. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.91 based on yesterday's closing prices.
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 101, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Apache (APA) Stock Sinks As Market Gains: What You Should Know
Apache (APA - Free Report) closed the most recent trading day at $28.65, moving -1.31% from the previous trading session. This change lagged the S&P 500's daily gain of 0.38%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.73%.
Prior to today's trading, shares of the oil and natural gas producer had gained 8.89% over the past month. This has outpaced the Oils-Energy sector's gain of 3.31% and the S&P 500's gain of 3.19% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. On that day, APA is projected to report earnings of $0.23 per share, which would represent a year-over-year decline of 54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, down 12.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1 per share and revenue of $6.94 billion, which would represent changes of -43.5% and -6.41%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for APA. These recent revisions tend to reflect the evolving nature of short-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection has moved 11.35% lower. APA currently has a Zacks Rank of #3 (Hold).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 29.03. For comparison, its industry has an average Forward P/E of 11.18, which means APA is trading at a premium to the group.
Also, we should mention that APA has a PEG ratio of 4.84. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.91 based on yesterday's closing prices.
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 101, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.