Apache Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Apache Corp (NYSE:APA) will unveil its latest earnings on Thursday, November 3, 2011. Apache is an energy company that explores for, develops, and produces natural gas, crude oil, and natural gas liquids in six countries.

Apache Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $2.82 per share, a rise of 28.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $2.99. Between one and three months ago, the average estimate moved down. It also has dropped from $2.86 during the last month. For the year, analysts are projecting profit of $11.79 per share, a rise of 32.2% from last year.

Past Earnings Performance: The company has beaten estimates the last two quarters and is coming off a quarter where it topped the forecasts by 13 cents, reporting net income of $3.22 per share against a mean estimate of profit of $3.09. In the first quarter, the company exceeded forecasts by 26 cents with net income of $2.87 versus a mean estimate of profit of $2.61.

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

Wall St. Revenue Expectations: On average, analysts predict $4.21 billion in revenue this quarter, a rise of 39.9% from the year ago quarter. Analysts are forecasting total revenue of $16.51 billion for the year, a rise of 36.6% from last year’s revenue of $12.09 billion.

Analyst Ratings: Analysts are bullish on this stock with 17 analysts rating it as a buy, none rating it as a sell and four rating it as a hold.

A Look Back: In the second quarter, profit rose 46.4% to $1.26 billion ($3.17 a share) from $860.2 million ($2.53 a share) the year earlier, exceeding analyst expectations. Revenue rose 46% to $4.34 billion from $2.97 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 39.1%, with the biggest boost coming in the first quarter when revenue rose 46.8% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 60.9% in the first quarter and 17.5% in the fourth quarter of the last fiscal year.

Competitors to Watch: EOG Resources, Inc. (NYSE:EOG), Chevron Corporation (NYSE:CVX), EnCana Corporation (NYSE:ECA), Chesapeake Energy Corp. (NYSE:CHK), Stone Energy Corporation (NYSE:SGY), Lucas Energy, Inc. (AMEX:LEI), Concho Resources Inc. (NYSE:CXO), Anadarko Petroleum Corp. (NYSE:APC), Noble Energy, Inc. (NYSE:NBL), and Gulfport Energy Corp. (NASDAQ:GPOR).

Stock Price Performance: During September 30, 2011 to October 28, 2011, the stock price had risen $24.88 (31.1%) from $80.11 to $104.99. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 7.3% (+$8.49) over that span. It saw one of its worst periods between September 16, 2011 and September 23, 2011 when shares fell for six-straight days, falling 15.8% (-$15.45) over that span. Shares are down $13.61 (-11.5%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.