In the latest trading session, Apache (APA - Free Report) closed at $13.98, marking a -1.69% move from the previous day. This change lagged the S&P 500's daily loss of 0.57%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.03%.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. In that report, analysts expect APA to post earnings of -$1 per share. This would mark a year-over-year decline of 1009.09%. Meanwhile, our latest consensus estimate is calling for revenue of $739.23 million, down 53.88% from the prior-year quarter.
Any recent changes to analyst estimates for APA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 1.39% lower. APA currently has a Zacks Rank of #3 (Hold).
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 56, putting it in the top 23% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.