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APA (APA) closed the most recent trading day at $33.84, moving -1.71% from the previous trading session. This change lagged the S&P 500's 1.15% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the oil and natural gas producer had lost 8.11% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 gained 1.44%.
APA will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, APA is projected to report earnings of $2.52 per share, which would represent year-over-year growth of 260%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.75 billion, up 54.41% from the year-ago period.
APA's full-year Zacks Consensus Estimates are calling for earnings of $10.01 per share and revenue of $11.13 billion. These results would represent year-over-year changes of +156.67% and +42.31%, respectively.
Investors should also note any recent changes to analyst estimates for APA. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate has moved 8.55% lower within the past month. APA is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that APA has a Forward P/E ratio of 3.44 right now. Its industry sports an average Forward P/E of 4.66, so we one might conclude that APA is trading at a discount comparatively.
It is also worth noting that APA currently has a PEG ratio of 0.18. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.21 based on yesterday's closing prices.
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 15, putting it in the top 6% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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