Yahoo Finance APA (APA) Gains As Market Dips: What You Should Know
The latest trading session saw APA (APA) ending at $29.44, denoting a +1.27% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.41% for the day. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw a decrease of 0.71%.
The oil and natural gas producer's stock has dropped by 2.22% in the past month, falling short of the Oils-Energy sector's loss of 1.17% and the S&P 500's gain of 3.53%.
Investors will be eagerly watching for the performance of APA in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.19, marking a 40% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.37 billion, indicating a 20.86% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.47 per share and revenue of $9.19 billion, which would represent changes of -1.32% and +12.47%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for APA. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.26% higher. As of now, APA holds a Zacks Rank of #3 (Hold).
Investors should also note APA's current valuation metrics, including its Forward P/E ratio of 6.5. Its industry sports an average Forward P/E of 10.16, so one might conclude that APA is trading at a discount comparatively.
Investors should also note that APA has a PEG ratio of 0.35 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 1.16 at the close of the market yesterday.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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APA Corporation (APA): Free Stock Analysis Report
