U.S. Markets closed

Can Apache Corporation (APA) Run Higher on Strong Earnings Estimate Revisions?

Zacks Equity Research
1 / 2

Surging Earnings Estimates Signal Upside for Ranger Energy Services, Inc. (RNGR) Stock

Ranger Energy Services, Inc. (RNGR) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Apache Corporation APA, which is an independent energy company, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on APA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Apache Corporation could be a solid choice for investors.

Current Quarter Estimates for APA

In the past 30 days, two estimates have gone higher for Apache Corporation while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 31 cents a share 30 days ago, to 36 cents today, a move of 16.1%.

Current Year Estimates for APA

Meanwhile, Apache Corporation current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.47 per share 30 days ago to $1.73 per share today, an increase of 17.7%.

Apache Corporation Price and Consensus

Apache Corporation Price and Consensus | Apache Corporation Quote

Bottom Line

The stock has also started to move higher lately, adding 16.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>


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
 
Apache Corporation (APA) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research