The upcoming report from APA (APA Quick QuoteAPA - Free Report) is expected to reveal quarterly earnings of $1.44 per share, indicating an increase of 54.8% compared to the year-ago period. Analysts forecast revenues of $2.37 billion, representing an increase of 17.6% year over year.

The consensus EPS estimate for the quarter has undergone an upward revision of 37% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Bearing this in mind, let's now explore the average estimates of specific APA metrics that are commonly monitored and projected by Wall Street analysts.

The consensus among analysts is that 'Oil, natural gas, and natural gas liquids production revenues- Oil revenues' will reach $1.75 billion. The estimate points to a change of +18.9% from the year-ago quarter.

The collective assessment of analysts points to an estimated 'Oil, natural gas, and natural gas liquids production revenues' of $2.16 billion. The estimate indicates a change of +19.5% from the prior-year quarter.

The consensus estimate for 'Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues' stands at $193.28 million. The estimate suggests a change of +36.1% year over year.

The average prediction of analysts places 'Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues' at $214.84 million. The estimate indicates a change of +11.9% from the prior-year quarter.

The combined assessment of analysts suggests that 'Revenues- United States' will likely reach $1.46 billion. The estimate indicates a change of +20.1% from the prior-year quarter.

Analysts predict that the 'Revenues- North Sea' will reach $193.76 million. The estimate points to a change of -5% from the year-ago quarter.

Analysts forecast 'Revenues- Egypt' to reach $806.55 million. The estimate indicates a change of +16.1% from the prior-year quarter.

According to the collective judgment of analysts, 'Production volume per day - NGL - Total' should come in at 75.88 thousands of barrels of oil. The estimate compares to the year-ago value of 74.21 thousands of barrels of oil.

Analysts' assessment points toward 'Production volume per day - Total' reaching 440 thousands of barrels of oil equivalent per day. Compared to the current estimate, the company reported 464 thousands of barrels of oil equivalent per day in the same quarter of the previous year.

Based on the collective assessment of analysts, 'Production volume per day - Oil - Total' should arrive at 214.83 thousands of barrels of oil. The estimate compares to the year-ago value of 234.24 thousands of barrels of oil.

Analysts expect 'Production volume per day - Natural gas - Total' to come in at . The estimate is in contrast to the year-ago figure of .

It is projected by analysts that the 'Average price per barrel - NGL - Total' will reach $26.37 . Compared to the present estimate, the company reported $20.65 in the same quarter last year.

Shares of APA have experienced a change of +11.3% in the past month compared to the -2.3% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), APA is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .