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APA (APA) Sees a More Significant Dip Than Broader Market: Some Facts to Know

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APA (APA - Free Report) closed the latest trading day at $25.11, indicating a -0.55% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.

The oil and natural gas producer's shares have seen a decrease of 10.87% over the last month, not keeping up with the Oils-Energy sector's loss of 2.45% and the S&P 500's gain of 1.57%.

Market participants will be closely following the financial results of APA in its upcoming release. In that report, analysts expect APA to post earnings of $1.09 per share. This would mark a year-over-year decline of 18.05%. Simultaneously, our latest consensus estimate expects the revenue to be $2.31 billion, showing a 0.01% escalation compared to the year-ago quarter.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.15 per share and a revenue of $9.16 billion, signifying shifts of -8.39% and +12.08%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for APA. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.34% decrease. APA is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, APA is currently trading at a Forward P/E ratio of 6.08. This valuation marks a discount compared to its industry's average Forward P/E of 9.95.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 218, positioning it in the bottom 14% 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.

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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