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APA (APA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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In the latest close session, APA (APA - Free Report) was down 1.54% at $41.54. This change lagged the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the oil and natural gas producer had lost 4.76% over the past month, lagging the Oils-Energy sector's loss of 0.62% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of APA in its forthcoming earnings report. The company is expected to report EPS of $1.18, up 26.88% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2.17 billion, indicating a 7.48% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.8 per share and a revenue of $8.94 billion, signifying shifts of +53.85% and -3.02%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for APA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 4.72% higher. Currently, APA is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, APA is currently exchanging hands at a Forward P/E ratio of 7.28. This signifies a discount in comparison to the average Forward P/E of 8.94 for its industry.
Investors should also note that APA has a PEG ratio of 0.73 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.73 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 107, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.
View the Zacks #1 Rank List
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APA (APA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest close session, APA (APA - Free Report) was down 1.54% at $41.54. This change lagged the S&P 500's 0.25% loss on the day. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, added 0.24%.
Heading into today, shares of the oil and natural gas producer had lost 4.76% over the past month, lagging the Oils-Energy sector's loss of 0.62% and the S&P 500's loss of 0.42%.
The investment community will be closely monitoring the performance of APA in its forthcoming earnings report. The company is expected to report EPS of $1.18, up 26.88% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2.17 billion, indicating a 7.48% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.8 per share and a revenue of $8.94 billion, signifying shifts of +53.85% and -3.02%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for APA. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 4.72% higher. Currently, APA is carrying a Zacks Rank of #2 (Buy).
From a valuation perspective, APA is currently exchanging hands at a Forward P/E ratio of 7.28. This signifies a discount in comparison to the average Forward P/E of 8.94 for its industry.
Investors should also note that APA has a PEG ratio of 0.73 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.73 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 107, which puts it in the top 44% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.