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APA (APA) Gains But Lags Market: What You Should Know
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In the latest trading session, APA (APA - Free Report) closed at $27.07, marking a +0.63% move from the previous day. This move lagged the S&P 500's daily gain of 0.98%.
Coming into today, shares of the oil and natural gas producer had gained 26.47% in the past month. In that same time, the Oils-Energy sector gained 7.14%, while the S&P 500 gained 2.57%.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, APA is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 656.25%. Our most recent consensus estimate is calling for quarterly revenue of $1.75 billion, up 56.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.87 per share and revenue of $7.7 billion, which would represent changes of +458.33% and +76.18%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.3% higher. APA currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 6.96. This represents a discount compared to its industry's average Forward P/E of 10.53.
Meanwhile, APA's PEG ratio is currently 0.47. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.47 based on yesterday's closing prices.
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 3, which puts it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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APA (APA) Gains But Lags Market: What You Should Know
In the latest trading session, APA (APA - Free Report) closed at $27.07, marking a +0.63% move from the previous day. This move lagged the S&P 500's daily gain of 0.98%.
Coming into today, shares of the oil and natural gas producer had gained 26.47% in the past month. In that same time, the Oils-Energy sector gained 7.14%, while the S&P 500 gained 2.57%.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 3, 2021. On that day, APA is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 656.25%. Our most recent consensus estimate is calling for quarterly revenue of $1.75 billion, up 56.23% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.87 per share and revenue of $7.7 billion, which would represent changes of +458.33% and +76.18%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.3% higher. APA currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, APA is currently trading at a Forward P/E ratio of 6.96. This represents a discount compared to its industry's average Forward P/E of 10.53.
Meanwhile, APA's PEG ratio is currently 0.47. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.47 based on yesterday's closing prices.
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 3, which puts it in the top 2% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.