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APA (APA) Gains As Market Dips: What You Should Know
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In the latest trading session, APA (APA - Free Report) closed at $42.52, marking a +0.76% move from the previous day. This change outpaced the S&P 500's 2.8% loss on the day. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil and natural gas producer had gained 14.27% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 3, 2022. In that report, analysts expect APA to post earnings of $2.34 per share. This would mark year-over-year growth of 138.78%. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, up 60.36% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.21 per share and revenue of $11 billion. These totals would mark changes of +136.15% and +40.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. APA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that APA has a Forward P/E ratio of 4.58 right now. For comparison, its industry has an average Forward P/E of 4.93, which means APA is trading at a discount to the group.
We can also see that APA currently has a PEG ratio of 0.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.24 based on yesterday's closing prices.
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 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.
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APA (APA) Gains As Market Dips: What You Should Know
In the latest trading session, APA (APA - Free Report) closed at $42.52, marking a +0.76% move from the previous day. This change outpaced the S&P 500's 2.8% loss on the day. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the oil and natural gas producer had gained 14.27% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Wall Street will be looking for positivity from APA as it approaches its next earnings report date. This is expected to be November 3, 2022. In that report, analysts expect APA to post earnings of $2.34 per share. This would mark year-over-year growth of 138.78%. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, up 60.36% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.21 per share and revenue of $11 billion. These totals would mark changes of +136.15% and +40.6%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for APA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 5.2% lower. APA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that APA has a Forward P/E ratio of 4.58 right now. For comparison, its industry has an average Forward P/E of 4.93, which means APA is trading at a discount to the group.
We can also see that APA currently has a PEG ratio of 0.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.24 based on yesterday's closing prices.
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 26, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow APA in the coming trading sessions, be sure to utilize Zacks.com.