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 the most recent trading day at $125.14, moving +0.52% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the energy company had gained 23.76% over the past month, outpacing the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% 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. In that report, analysts expect ConocoPhillips to post earnings of $3.49 per share. This would mark year-over-year growth of 97.18%. Our most recent consensus estimate is calling for quarterly revenue of $17.62 billion, up 51.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.15 per share and revenue of $77.09 billion, which would represent changes of +135.44% and +59.45%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.71% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 8.8. This represents a discount compared to its industry's average Forward P/E of 11.49.
Investors should also note that COP has a PEG ratio of 0.46 right now. 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. COP's industry had an average PEG ratio of 0.5 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 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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 the most recent trading day at $125.14, moving +0.52% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 1.34%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Heading into today, shares of the energy company had gained 23.76% over the past month, outpacing the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% 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. In that report, analysts expect ConocoPhillips to post earnings of $3.49 per share. This would mark year-over-year growth of 97.18%. Our most recent consensus estimate is calling for quarterly revenue of $17.62 billion, up 51.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.15 per share and revenue of $77.09 billion, which would represent changes of +135.44% and +59.45%, respectively, from the prior 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.71% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 8.8. This represents a discount compared to its industry's average Forward P/E of 11.49.
Investors should also note that COP has a PEG ratio of 0.46 right now. 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. COP's industry had an average PEG ratio of 0.5 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 75, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.