The latest trading session saw APA (APA) ending at $24.82, denoting a +0.61% adjustment from its last day's close. This change outpaced the S&P 500's 0.03% loss on the day. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.56%.

Coming into today, shares of the oil and natural gas producer had gained 6.57% in the past month. In that same time, the Oils-Energy sector lost 10.96%, while the S&P 500 gained 1.39%.

Investors will be eagerly watching for the performance of APA in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. On that day, APA is projected to report earnings of $1.03 per share, which would represent a year-over-year decline of 22.56%. In the meantime, our current consensus estimate forecasts the revenue to be $2.27 billion, indicating a 1.49% decline compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $4.01 per share and revenue of $8.97 billion, which would represent changes of -11.48% and +9.82%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for APA. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 moved 0.83% lower. Currently, APA is carrying a Zacks Rank of #5 (Strong Sell).

Digging into valuation, APA currently has a Forward P/E ratio of 6.16. This signifies a discount in comparison to the average Forward P/E of 10.51 for its industry.

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 238, putting it in the bottom 6% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.