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Why Earnings Season Could Be Great for Apache (APA)

That is because Apache is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for APA in this report. This suggests that analysts have very recently bumped up their estimates for APA, giving the stock a Zacks Earnings ESP of +1.33% heading into earnings season. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

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