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APA (APA) Stock Moves -0.6%: What You Should Know

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APA (APA - Free Report) closed at $41.49 in the latest trading session, marking a -0.6% move from the prior day. This change was narrower than the S&P 500's 1.13% loss on the day. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.

Prior to today's trading, shares of the oil and natural gas producer had gained 24.11% over the past month. This has outpaced the Oils-Energy sector's gain of 2.38% and the S&P 500's loss of 7.59% in that time.

Wall Street will be looking for positivity from APA as it approaches its next earnings report date. On that day, APA is projected to report earnings of $2.62 per share, which would represent year-over-year growth of 167.35%. Meanwhile, our latest consensus estimate is calling for revenue of $2.76 billion, up 67.34% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.90 per share and revenue of $11.21 billion. These totals would mark changes of +153.85% and +43.33%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. 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. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 6.44% higher. APA is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 4.22. This represents a discount compared to its industry's average Forward P/E of 5.6.

Also, we should mention that APA has a PEG ratio of 0.16. 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 0.22 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 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.

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