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APA (APA) Stock Moves -1.34%: What You Should Know

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The most recent trading session ended with APA (APA - Free Report) standing at $30.28, reflecting a -1.34% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 2.32% for the day. At the same time, the Dow lost 1.25%, and the tech-heavy Nasdaq lost 3.64%.

Shares of the oil and natural gas producer witnessed a gain of 5.83% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8.99% and the S&P 500's gain of 1.79%.

The upcoming earnings release of APA will be of great interest to investors. The company's earnings report is expected on July 31, 2024. The company's earnings per share (EPS) are projected to be $1.06, reflecting a 24.71% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.31 billion, showing a 17.98% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.34 per share and revenue of $9.16 billion, which would represent changes of -4.19% and +12.11%, 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.01% lower. APA is currently a Zacks Rank #3 (Hold).

In terms of valuation, APA is presently being traded at a Forward P/E ratio of 7.07. This expresses a discount compared to the average Forward P/E of 10.49 of its industry.

Meanwhile, APA's PEG ratio is currently 0.38. 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. As the market closed yesterday, the Oil and Gas - Exploration and Production - United States industry was having an average PEG ratio of 1.14.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 76, this industry ranks in the top 31% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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