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APA (APA) Stock Sinks As Market Gains: What You Should Know
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APA (APA - Free Report) closed the most recent trading day at $45.44, moving -0.63% from the previous trading session. This move lagged the S&P 500's daily gain of 2.46%. Meanwhile, the Dow gained 2.59%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Coming into today, shares of the oil and natural gas producer had gained 30.84% in the past month. In that same time, the Oils-Energy sector gained 20.08%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from APA as it approaches its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $1.92, up 95.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 57.89% from the year-ago period.
APA's full-year Zacks Consensus Estimates are calling for earnings of $8.40 per share and revenue of $11.1 billion. These results would represent year-over-year changes of +115.38% and +41.86%, respectively.
Investors might also notice recent changes to analyst estimates for APA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 14.32% lower. APA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 5.44. Its industry sports an average Forward P/E of 5.45, so we one might conclude that APA is trading at a discount comparatively.
We can also see that APA currently has a PEG ratio of 0.19. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 as of yesterday's close.
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 54, putting it in the top 22% 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.
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APA (APA) Stock Sinks As Market Gains: What You Should Know
APA (APA - Free Report) closed the most recent trading day at $45.44, moving -0.63% from the previous trading session. This move lagged the S&P 500's daily gain of 2.46%. Meanwhile, the Dow gained 2.59%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Coming into today, shares of the oil and natural gas producer had gained 30.84% in the past month. In that same time, the Oils-Energy sector gained 20.08%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from APA as it approaches its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $1.92, up 95.92% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, up 57.89% from the year-ago period.
APA's full-year Zacks Consensus Estimates are calling for earnings of $8.40 per share and revenue of $11.1 billion. These results would represent year-over-year changes of +115.38% and +41.86%, respectively.
Investors might also notice recent changes to analyst estimates for APA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 14.32% lower. APA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 5.44. Its industry sports an average Forward P/E of 5.45, so we one might conclude that APA is trading at a discount comparatively.
We can also see that APA currently has a PEG ratio of 0.19. 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. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 as of yesterday's close.
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 54, putting it in the top 22% 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.