In the latest trading session, Apache (APA - Free Report) closed at $13.33, marking a +0.6% move from the previous day. This change lagged the S&P 500's 1.47% gain on the day. Elsewhere, the Dow gained 2.32%, while the tech-heavy Nasdaq added 1.2%.
Coming into today, shares of the oil and natural gas producer had gained 11.63% in the past month. In that same time, the Oils-Energy sector lost 2.1%, while the S&P 500 gained 0.74%.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. The company is expected to report EPS of -$1, down 1009.09% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $737.23 million, down 54.01% from the year-ago period.
Any recent changes to analyst estimates for APA should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.32% lower within the past month. APA is holding a Zacks Rank of #3 (Hold) right now.
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 46, which puts it in the top 19% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.