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APA (APA) Gains As Market Dips: What You Should Know

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APA (APA - Free Report) closed at $40.78 in the latest trading session, marking a +0.77% move from the prior day. This change outpaced the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.

Coming into today, shares of the oil and natural gas producer had gained 23.35% in the past month. In that same time, the Oils-Energy sector gained 6.61%, while the S&P 500 gained 7.71%.

APA will be looking to display strength as it nears its next earnings release, which is expected to be May 3, 2023. In that report, analysts expect APA to post earnings of $1.04 per share. This would mark a year-over-year decline of 45.83%. Meanwhile, our latest consensus estimate is calling for revenue of $1.93 billion, down 27.66% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.95 per share and revenue of $8.58 billion. These totals would mark changes of -22.53% and -21.75%, respectively, from last year.

Any recent changes to analyst estimates for APA should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 6.18% lower. APA currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, APA is holding a Forward P/E ratio of 6.8. Its industry sports an average Forward P/E of 6.71, so we one might conclude that APA is trading at a premium comparatively.

Meanwhile, APA's PEG ratio is currently 0.27. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.36 based on yesterday's closing prices.

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 236, which puts it in the bottom 7% 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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