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APA (APA) Gains But Lags Market: What You Should Know
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APA (APA - Free Report) closed at $35.66 in the latest trading session, marking a +0.82% move from the prior day. This change lagged the S&P 500's 1.96% gain on the day. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the oil and natural gas producer had lost 1.5% in the past month. In that same time, the Oils-Energy sector gained 6.43%, while the S&P 500 gained 2.19%.
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 $0.97 per share. This would mark a year-over-year decline of 49.48%. Our most recent consensus estimate is calling for quarterly revenue of $1.92 billion, down 27.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.79 per share and revenue of $8.66 billion, which would represent changes of -24.61% and -21.06%, respectively, from the prior year.
Any recent changes to analyst estimates for APA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 1.01% higher within the past month. APA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, APA is holding a Forward P/E ratio of 6.11. For comparison, its industry has an average Forward P/E of 6.49, which means APA is trading at a discount to the group.
Meanwhile, APA's PEG ratio is currently 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.34 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 214, putting it in the bottom 16% 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.
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 $35.66 in the latest trading session, marking a +0.82% move from the prior day. This change lagged the S&P 500's 1.96% gain on the day. Elsewhere, the Dow gained 1.57%, while the tech-heavy Nasdaq lost 3.03%.
Coming into today, shares of the oil and natural gas producer had lost 1.5% in the past month. In that same time, the Oils-Energy sector gained 6.43%, while the S&P 500 gained 2.19%.
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 $0.97 per share. This would mark a year-over-year decline of 49.48%. Our most recent consensus estimate is calling for quarterly revenue of $1.92 billion, down 27.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.79 per share and revenue of $8.66 billion, which would represent changes of -24.61% and -21.06%, respectively, from the prior year.
Any recent changes to analyst estimates for APA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. The Zacks Consensus EPS estimate has moved 1.01% higher within the past month. APA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, APA is holding a Forward P/E ratio of 6.11. For comparison, its industry has an average Forward P/E of 6.49, which means APA is trading at a discount to the group.
Meanwhile, APA's PEG ratio is currently 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.34 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 214, putting it in the bottom 16% 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.