Compared to Estimates, APA (APA) Q2 Earnings: A Look at Key Metrics

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how APA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Production volume per day - Total: 409.96 KBOE/D compared to the 408.10 KBOE/D average estimate based on seven analysts.
• Production volume per day - Oil - Total: 211.27 thousands of barrels of oil per day versus 213.61 thousands of barrels of oil per day estimated by seven analysts on average.
• Production volume per day - Natural gas - Total: 752.13 millions of cubic feet per day compared to the 753.11 millions of cubic feet per day average estimate based on seven analysts.
• Production volume per day - NGL - Total: 73.34 thousands of barrels of oil per day versus the six-analyst average estimate of 69.33 thousands of barrels of oil per day.
• Average price per barrel - NGL - Total: $25.41 compared to the $26.95 average estimate based on five analysts.
• Average price - Natural gas - Total: $0.60 versus $1.44 estimated by five analysts on average.
• Average price per barrel - Oil - Total: $98.24 compared to the $92.12 average estimate based on five analysts.
• Oil, natural gas, and natural gas liquids production revenues- Oil revenues: $1.83 billion versus $1.76 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +32.2% change.
• Oil, natural gas, and natural gas liquids production revenues: $2.04 billion versus the four-analyst average estimate of $2.03 billion. The reported number represents a year-over-year change of +18.6%.
• Oil, natural gas, and natural gas liquids production revenues- Natural gas liquids revenues: $170 million versus $168.19 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +11.1% change.
• Oil, natural gas, and natural gas liquids production revenues- Natural gas revenues: $41 million compared to the $96.53 million average estimate based on four analysts. The reported number represents a change of -77.7% year over year.
• Purchased oil and gas sales: $336 million versus $374.35 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -27% change.

View all Key Company Metrics for APA here>>>

Shares of APA have returned +5.3% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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