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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 $32.09 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's daily loss of 1.42%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the oil and natural gas producer had gained 30.08% over the past month. This has outpaced the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 3120% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.09 billion, up 71.67% from the year-ago period.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 4.41% higher. APA is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, APA currently has a Forward P/E ratio of 6.02. Its industry sports an average Forward P/E of 6.24, so we one might conclude that APA is trading at a discount comparatively.
It is also worth noting that APA currently has a PEG ratio of 0.31. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.29 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 202, putting it in the bottom 21% 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.
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 $32.09 in the latest trading session, marking a -1.72% move from the prior day. This change lagged the S&P 500's daily loss of 1.42%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the oil and natural gas producer had gained 30.08% over the past month. This has outpaced the Oils-Energy sector's gain of 8.29% and the S&P 500's gain of 0.39% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 3120% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.09 billion, up 71.67% from the year-ago period.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 4.41% higher. APA is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, APA currently has a Forward P/E ratio of 6.02. Its industry sports an average Forward P/E of 6.24, so we one might conclude that APA is trading at a discount comparatively.
It is also worth noting that APA currently has a PEG ratio of 0.31. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.29 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 202, putting it in the bottom 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.