Wall Street analysts forecast that APA (APA) will report quarterly earnings of $0.74 per share in its upcoming release, pointing to a year-over-year decline of 26%. It is anticipated that revenues will amount to $2.04 billion, exhibiting a decrease of 19.5% compared to the year-ago quarter.
The current level reflects an upward revision of 1.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some APA metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues' of $189.59 million. The estimate indicates a year-over-year change of +84.1%.
According to the collective judgment of analysts, 'Oil, natural gas, and natural gas liquids production revenues' should come in at $1.66 billion. The estimate points to a change of -19.2% from the year-ago quarter.
Analysts forecast 'Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues' to reach $147.50 million. The estimate points to a change of -6.7% from the year-ago quarter.
Based on the collective assessment of analysts, 'Purchased oil and gas sales' should arrive at $378.79 million. The estimate indicates a year-over-year change of -19.9%.
Analysts expect 'Revenues- United States' to come in at $971.90 million. The estimate points to a change of -40.7% from the year-ago quarter.
The consensus among analysts is that 'Revenues- North Sea' will reach $173.36 million. The estimate indicates a year-over-year change of +26.5%.
The average prediction of analysts places 'Revenues- Egypt' at $660.46 million. The estimate indicates a change of -12.4% from the prior-year quarter.
It is projected by analysts that the 'Production volume per day - Total' will reach 447 thousands of barrels of oil equivalent per day. Compared to the present estimate, the company reported 467 thousands of barrels of oil equivalent per day in the same quarter last year.
Analysts' assessment points toward 'Production volume per day - Natural gas - Total' reaching . Compared to the current estimate, the company reported in the same quarter of the previous year.
Analysts predict that the 'Average price per barrel - NGL - Total' will reach $20.84 . The estimate compares to the year-ago value of $21.29 .
The consensus estimate for 'Production volume per day - NGL - Total' stands at 77.11 thousands of barrels of oil. Compared to the present estimate, the company reported 80.02 thousands of barrels of oil in the same quarter last year.
The combined assessment of analysts suggests that 'Production volume per day - Oil - Total' will likely reach 228.17 thousands of barrels of oil. Compared to the present estimate, the company reported 256.31 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for APA here>>>
Shares of APA have experienced a change of -10.5% in the past month compared to the +2.1% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), APA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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APA Corporation (APA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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