APA (APA) closed at $34 in the latest trading session, marking a -1.16% move from the prior day. This move lagged the S&P 500's daily gain of 0.62%. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.
Prior to today's trading, shares of the oil and natural gas producer had gained 4.88% over the past month. This has outpaced the Oils-Energy sector's gain of 2.66% and the S&P 500's gain of 3.44% in that time.
APA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.91, down 61.6% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.92 billion, down 36.94% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.71 per share and revenue of $8.37 billion, which would represent changes of -38.67% and -23.68%, respectively, from the prior year.
Investors should also note any 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.
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 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. The Zacks Consensus EPS estimate has moved 12.52% lower within the past month. APA is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, APA is currently trading at a Forward P/E ratio of 7.3. This represents a premium compared to its industry's average Forward P/E of 7.22.
Investors should also note that APA has a PEG ratio of 6.14 right now. 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. APA's industry had an average PEG ratio of 0.37 as of yesterday's close.
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 217, which puts it in the bottom 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report