APA Corporation (NASDAQ:APA) price on Wednesday, August 25, rose 1.28% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $18.13.
A look at the stock’s price movement, the close in the last trading session was $17.90, moving within a range at $17.63 and $18.26. The beta value (5-Year monthly) was 4.95 while the PE ratio in trailing twelve months stood at 9.68. Turning to its 52-week performance, $24.30 and $7.45 were the 52-week high and 52-week low respectively. Overall, APA moved -2.32% over the past month.
APA Corporation’s market cap currently stands at around $6.82 billion, with investors looking forward to this quarter’s earnings report slated for Nov 02, 2021 – Nov 08, 2021. The company has a Forward Dividend ratio of 0.10, with its dividend yield at 0.55%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.57, which has seen fiscal year 2021 EPS growth forecast to increase to $3.38 and about $3.25 for fiscal year 2022. Per the data, EPS growth is expected to be 413.00% for 2021 and -3.80% for the next financial year.
Analysts have a consensus estimate of $1.54 billion for the company’s revenue for the quarter, with a low and high estimate of $1.42 billion and $1.55 billion respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $6.33 billion, representing a 47.00% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 7 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that APA is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
30 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 17 analyst(s) rate the stock as a Hold, 9 recommend APA as a Buy and 3 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
APA’s current price about 1.02% and -6.35% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.10, while 7-day volatility ratio is 4.14% and 4.27% in the 30-day chart. Further, APA Corporation (APA) has a beta value of 4.96, and an average true range (ATR) of 0.82. Analysts have given the company’s stock an average 52-week price target of $27.95, forecast between a low of $17.00 and high of $40.00. Looking at the price targets, the low is 6.23% off current price level while to achieve the yearly target high, price needs to move -120.63%. Nonetheless, investors will most likely welcome a -48.92% jump to $27.00 which is the analysts’ median price.
In the market, a comparison of APA Corporation (APA) and its peers suggest the former has performed considerably stronger. Data shows APA’s intraday price has changed 1.28% in last session and 23.75% over the past year. Comparatively, EOG Resources Inc. (EOG) has moved 0.41% on the day and only 56.84% in the past 12 months. Looking at another peer, we see that Schlumberger Limited (SLB) price has gained 0.82% on the day. However, the stock is 47.72% off its price a year ago. Moreover, Pioneer Natural Resources Company (PXD) is also up 0.89% in trading on the day while keeping a an uptrend of 39.50% over the past year. If we look at the PE ratio, we find that APA Corporation’s ratio stands at 9.68 compared to EOG Resources Inc.’s 21.32 and Schlumberger Limited’s 39.30. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.22% and 0.11% respectively in the last trading.
If we refocus on APA Corporation (NASDAQ:APA), historical trading data shows that trading volumes averaged 7.52 million over the past 3 months. The company’s latest data on shares outstanding shows there are 378.00 million shares.
The 0.10% of APA Corporation’s shares are in the hands of company insiders while institutional holders own 85.50% of the company’s shares. Current price change has pushed the stock 27.77% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the APA stock continues to rise going into the next quarter.