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APA (APA) Gains But Lags Market: What You Should Know
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APA (APA - Free Report) closed at $34.83 in the latest trading session, marking a +0.9% move from the prior day. The stock lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Prior to today's trading, shares of the oil and natural gas producer had lost 18.8% over the past month. This has lagged the Oils-Energy sector's loss of 8.65% and the S&P 500's loss of 6.68% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. In that report, analysts expect APA to post earnings of $1.15 per share. This would mark a year-over-year decline of 40.1%. Our most recent consensus estimate is calling for quarterly revenue of $2 billion, down 24.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.35 per share and revenue of $9 billion, which would represent changes of -17.32% and -17.94%, 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.47% 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 5.44. This valuation marks a discount compared to its industry's average Forward P/E of 5.66.
Also, we should mention that APA has a PEG ratio of 0.22. 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. 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 industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.
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APA (APA) Gains But Lags Market: What You Should Know
APA (APA - Free Report) closed at $34.83 in the latest trading session, marking a +0.9% move from the prior day. The stock lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Prior to today's trading, shares of the oil and natural gas producer had lost 18.8% over the past month. This has lagged the Oils-Energy sector's loss of 8.65% and the S&P 500's loss of 6.68% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. In that report, analysts expect APA to post earnings of $1.15 per share. This would mark a year-over-year decline of 40.1%. Our most recent consensus estimate is calling for quarterly revenue of $2 billion, down 24.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.35 per share and revenue of $9 billion, which would represent changes of -17.32% and -17.94%, 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.47% 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 5.44. This valuation marks a discount compared to its industry's average Forward P/E of 5.66.
Also, we should mention that APA has a PEG ratio of 0.22. 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. 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 industry currently has a Zacks Industry Rank of 226, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.