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In the latest trading session, Apache (APA) closed at $7.94, marking a -1.73% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.2%. Elsewhere, the Dow lost 1.86%, while the tech-heavy Nasdaq lost 1.44%.
Prior to today's trading, shares of the oil and natural gas producer had gained 81.17% over the past month. This has outpaced the Oils-Energy sector's gain of 8.52% and the S&P 500's gain of 5.45% in that time.
Investors will be hoping for strength from APA as it approaches its next earnings release. The company is expected to report EPS of -$0.10, down 200% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.42 billion, down 12.85% from the year-ago period.
Investors might also notice 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. Within the past 30 days, our consensus EPS projection has moved 305.04% lower. 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 industry currently has a Zacks Industry Rank of 139, which puts it in the bottom 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Apache Corporation (APA) : Free Stock Analysis Report
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