In its upcoming report, APA (APA) is predicted by Wall Street analysts to post quarterly earnings of $0.62 per share, reflecting a decline of 21.5% compared to the same period last year. Revenues are forecasted to be $1.92 billion, representing a year-over-year decrease of 23.2%.
The current level reflects a downward revision of 0.4% 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.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 consensus among analysts is that 'Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues' will reach $173.84 million. The estimate points to a change of +2.3% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Oil, natural gas, and natural gas liquids production revenues' of $1.58 billion. The estimate points to a change of -27.7% from the year-ago quarter.
Based on the collective assessment of analysts, 'Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues' should arrive at $130.99 million. The estimate indicates a change of -30.7% from the prior-year quarter.
The average prediction of analysts places 'Oil, natural gas, and natural gas liquids production revenues- Oil revenues' at $1.30 billion. The estimate indicates a year-over-year change of -29.2%.
According to the collective judgment of analysts, 'Revenues- United States' should come in at $962.01 million. The estimate indicates a change of -43.6% from the prior-year quarter.
Analysts forecast 'Revenues- North Sea' to reach $151.33 million. The estimate indicates a year-over-year change of -50.6%.
Analysts' assessment points toward 'Revenues- Egypt' reaching $617.34 million. The estimate indicates a change of -11.7% from the prior-year quarter.
Analysts expect 'Production volume per day - Total' to come in at 437 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 488 thousands of barrels of oil equivalent per day.
It is projected by analysts that the 'Production volume per day - Natural gas - Total' will reach . The estimate is in contrast to the year-ago figure of .
The consensus estimate for 'Average price per barrel - NGL - Total' stands at $20.47 . Compared to the present estimate, the company reported $25.08 in the same quarter last year.
The combined assessment of analysts suggests that 'Production volume per day - NGL - Total' will likely reach 67.61 thousands of barrels of oil. Compared to the present estimate, the company reported 81.70 thousands of barrels of oil in the same quarter last year.
Analysts predict that the 'Production volume per day - Oil - Total' will reach 230.65 thousands of barrels of oil. Compared to the present estimate, the company reported 265.18 thousands of barrels of oil in the same quarter last year.
View all Key Company Metrics for APA here>>>
Shares of APA have demonstrated returns of +13.1% over the past month compared to the Zacks S&P 500 composite's -1% change. With a Zacks Rank #4 (Sell), APA is expected to lag 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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