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APA (APA) Stock Dips While Market Gains: Key Facts
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APA (APA - Free Report) closed at $33.03 in the latest trading session, marking a -2.65% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Prior to today's trading, shares of the oil and natural gas producer had lost 13.71% lagged the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of APA in its upcoming release. On that day, APA is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 105.75%. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 4.39% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.6 per share and a revenue of $9.29 billion, representing changes of +48.54% and +0.75%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.55% upward. APA is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 6.06. This expresses a discount compared to the average Forward P/E of 9.26 of its industry.
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 108, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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APA (APA) Stock Dips While Market Gains: Key Facts
APA (APA - Free Report) closed at $33.03 in the latest trading session, marking a -2.65% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
Prior to today's trading, shares of the oil and natural gas producer had lost 13.71% lagged the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Market participants will be closely following the financial results of APA in its upcoming release. On that day, APA is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 105.75%. Alongside, our most recent consensus estimate is anticipating revenue of $2.5 billion, indicating a 4.39% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.6 per share and a revenue of $9.29 billion, representing changes of +48.54% and +0.75%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for APA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.55% upward. APA is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 6.06. This expresses a discount compared to the average Forward P/E of 9.26 of its industry.
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 108, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.