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APA (APA) Advances While Market Declines: Some Information for Investors
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The latest trading session saw APA (APA - Free Report) ending at $19.61, denoting a +1.71% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.27%.
Shares of the oil and natural gas producer have appreciated by 4.44% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.61%, and the S&P 500's gain of 6.9%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $0.58, showcasing a 50.43% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.88 billion, down 32.49% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and revenue of $8.11 billion, which would represent changes of -20.16% and -16.74%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.99% higher. Right now, APA possesses a Zacks Rank of #3 (Hold).
With respect to valuation, APA is currently being traded at a Forward P/E ratio of 6.4. This valuation marks a discount compared to its industry average Forward P/E of 10.86.
Also, we should mention that APA has a PEG ratio of 6.1. 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. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 2.48 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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APA (APA) Advances While Market Declines: Some Information for Investors
The latest trading session saw APA (APA - Free Report) ending at $19.61, denoting a +1.71% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.27%.
Shares of the oil and natural gas producer have appreciated by 4.44% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.61%, and the S&P 500's gain of 6.9%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $0.58, showcasing a 50.43% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.88 billion, down 32.49% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and revenue of $8.11 billion, which would represent changes of -20.16% and -16.74%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.99% higher. Right now, APA possesses a Zacks Rank of #3 (Hold).
With respect to valuation, APA is currently being traded at a Forward P/E ratio of 6.4. This valuation marks a discount compared to its industry average Forward P/E of 10.86.
Also, we should mention that APA has a PEG ratio of 6.1. 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. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 2.48 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.