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Apache (APA) Gains As Market Dips: What You Should Know

Zacks Equity Research

Apache (APA) closed at $13.07 in the latest trading session, marking a +0.15% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.92%. At the same time, the Dow lost 1.17%, and the tech-heavy Nasdaq lost 0.28%.

Heading into today, shares of the oil and natural gas producer had gained 224.63% over the past month, outpacing the Oils-Energy sector's gain of 28.05% and the S&P 500's gain of 15.69% in that time.

APA will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2020. The company is expected to report EPS of -$0.28, down 380% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.38 billion, down 15.75% from the year-ago period.

Any recent changes to analyst estimates for APA should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.02% lower within the past month. APA is currently sporting a Zacks Rank of #3 (Hold).

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 136, putting it in the bottom 47% 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.


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