The most recent trading session ended with APA (APA) standing at $24.85, reflecting a +1.93% shift from the previouse trading day’s closing. This change outpaced the S&P 500’s 0.12% gain on the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, lost 0.23%.
The the stock of oil and natural gas producer has risen by 11.12% in the past month, leading the Oils-Energy sector’s loss of 8.42% and the S&P 500’s loss of 3.45%.
Investors will be eagerly watching for the performance of APA in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.01, indicating a 12.17% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.28 billion, indicating a 20.64% increase compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for APA. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts’ favorable outlook on the company’s business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.12% increase. As of now, APA holds a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 7.15. This expresses a discount compared to the average Forward P/E of 10.03 of its industry.
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 141, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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