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APA (APA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, APA (APA - Free Report) closed at $32.58, marking a -1.9% move from the previous day. This change lagged the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Prior to today's trading, shares of the oil and natural gas producer had lost 0.27% over the past month. This has lagged the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 4.66% in that time.
APA will be looking to display strength as it nears its next earnings release. In that report, analysts expect APA to post earnings of $0.87 per share. This would mark a year-over-year decline of 63.29%. Meanwhile, our latest consensus estimate is calling for revenue of $1.92 billion, down 36.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.53 per share and revenue of $8.37 billion, which would represent changes of -41.02% and -23.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for APA. Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.95% lower. APA is currently a Zacks Rank #3 (Hold).
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 7.34. This represents a premium compared to its industry's average Forward P/E of 7.28.
We can also see that APA currently has a PEG ratio of 6.17. 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 0.37 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 215, putting it in the bottom 15% 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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APA (APA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, APA (APA - Free Report) closed at $32.58, marking a -1.9% move from the previous day. This change lagged the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 2.23%.
Prior to today's trading, shares of the oil and natural gas producer had lost 0.27% over the past month. This has lagged the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 4.66% in that time.
APA will be looking to display strength as it nears its next earnings release. In that report, analysts expect APA to post earnings of $0.87 per share. This would mark a year-over-year decline of 63.29%. Meanwhile, our latest consensus estimate is calling for revenue of $1.92 billion, down 36.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.53 per share and revenue of $8.37 billion, which would represent changes of -41.02% and -23.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for APA. Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.95% lower. APA is currently a Zacks Rank #3 (Hold).
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 7.34. This represents a premium compared to its industry's average Forward P/E of 7.28.
We can also see that APA currently has a PEG ratio of 6.17. 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 0.37 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 215, putting it in the bottom 15% 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.