We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ConocoPhillips (COP) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
ConocoPhillips (COP - Free Report) closed at $118.36 in the latest trading session, marking a +0.34% move from the prior day. This move lagged the S&P 500's daily gain of 2.65%. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 0.24%.
Coming into today, shares of the energy company had gained 4.27% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 8.99%.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. On that day, ConocoPhillips is projected to report earnings of $3.74 per share, which would represent year-over-year growth of 111.3%. Meanwhile, our latest consensus estimate is calling for revenue of $18.97 billion, up 63.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.76 per share and revenue of $79.09 billion. These totals would mark changes of +145.59% and +63.58%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions help to show the ever-changing nature of 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.53% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 7.99. Its industry sports an average Forward P/E of 10.37, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Also, we should mention that COP has a PEG ratio of 0.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COP's industry had an average PEG ratio of 0.41 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ConocoPhillips (COP) Gains But Lags Market: What You Should Know
ConocoPhillips (COP - Free Report) closed at $118.36 in the latest trading session, marking a +0.34% move from the prior day. This move lagged the S&P 500's daily gain of 2.65%. Elsewhere, the Dow gained 1.86%, while the tech-heavy Nasdaq added 0.24%.
Coming into today, shares of the energy company had gained 4.27% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 8.99%.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. On that day, ConocoPhillips is projected to report earnings of $3.74 per share, which would represent year-over-year growth of 111.3%. Meanwhile, our latest consensus estimate is calling for revenue of $18.97 billion, up 63.32% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.76 per share and revenue of $79.09 billion. These totals would mark changes of +145.59% and +63.58%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions help to show the ever-changing nature of 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 0.53% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 7.99. Its industry sports an average Forward P/E of 10.37, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Also, we should mention that COP has a PEG ratio of 0.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COP's industry had an average PEG ratio of 0.41 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.