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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
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ConocoPhillips (COP - Free Report) closed at $118.51 in the latest trading session, marking a +0.73% move from the prior day. This move outpaced the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the energy company had gained 8.61% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $4.02, up 127.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $18.44 billion, up 58.7% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $14.35 per share and revenue of $78.36 billion. These results would represent year-over-year changes of +138.77% and +62.07%, respectively.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.16% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 8.2 right now. Its industry sports an average Forward P/E of 10.61, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Also, we should mention that COP has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.42 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
ConocoPhillips (COP - Free Report) closed at $118.51 in the latest trading session, marking a +0.73% move from the prior day. This move outpaced the S&P 500's daily loss of 2.8%. At the same time, the Dow lost 2.11%, and the tech-heavy Nasdaq lost 0.1%.
Prior to today's trading, shares of the energy company had gained 8.61% over the past month. This has outpaced the Oils-Energy sector's gain of 1.49% and the S&P 500's loss of 4.08% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be November 3, 2022. The company is expected to report EPS of $4.02, up 127.12% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $18.44 billion, up 58.7% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $14.35 per share and revenue of $78.36 billion. These results would represent year-over-year changes of +138.77% and +62.07%, respectively.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.16% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 8.2 right now. Its industry sports an average Forward P/E of 10.61, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Also, we should mention that COP has a PEG ratio of 0.42. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.42 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.