Here's Why APA (APA) Gained But Lagged the Market Today
APA (APA) ended the recent trading session at $23.70, demonstrating a +0.38% swing from the preceding day's closing price. This change lagged the S&P 500's 0.75% gain on the day. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 1%.
Coming into today, shares of the oil and natural gas producer had lost 18.45% in the past month. In that same time, the Oils-Energy sector lost 4.12%, while the S&P 500 gained 4.03%.
Market participants will be closely following the financial results of APA in its upcoming release. The company is forecasted to report an EPS of $1.12, showcasing a 15.79% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.36 billion, indicating a 2.36% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.34 per share and revenue of $9.31 billion, which would represent changes of -4.19% and +13.95%, respectively, from the prior year.
Any recent changes to analyst estimates for APA should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.51% increase. APA presently features a Zacks Rank of #3 (Hold).
Digging into valuation, APA currently has a Forward P/E ratio of 5.44. This denotes a discount relative to the industry's average Forward P/E of 9.24.
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 214, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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APA Corporation (APA) : Free Stock Analysis Report