APA (APA) closed the latest trading day at $23.66, indicating no change from the previous session’s end. This change was narrower than the S&P 500’s 1.11% loss on the day. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq depreciated by 1.89%.
Heading into today, shares of the oil and natural gas producer had gained 6.34% over the past month, outpacing the Oils-Energy sector’s loss of 11.62% and the S&P 500’s loss of 1.7% in that time.
The upcoming earnings release of APA will be of great interest to investors. The company is expected to report EPS of $0.99, down 13.91% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2.28 billion, indicating a 20.64% upward movement from the same quarter last year.
Investors should also note any recent changes to analyst estimates for APA. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 3.85% lower within the past month. APA is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at valuation, APA is presently trading at a Forward P/E ratio of 7.2. This represents a discount compared to its industry’s average Forward P/E of 9.89.
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 150, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
