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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $113.34, marking a +0.19% move from the previous day. The stock lagged the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 10.36%.
Coming into today, shares of the energy company had lost 2.15% in the past month. In that same time, the Oils-Energy sector lost 6.78%, while the S&P 500 lost 5.98%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be February 2, 2023. The company is expected to report EPS of $3.23, up 42.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.72 billion, up 11.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.02% 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 8.78 right now. Its industry sports an average Forward P/E of 11.12, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
We can also see that COP currently has a PEG ratio of 0.46. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.51 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 100, which puts it in the top 40% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $113.34, marking a +0.19% move from the previous day. The stock lagged the S&P 500's daily gain of 0.75%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 10.36%.
Coming into today, shares of the energy company had lost 2.15% in the past month. In that same time, the Oils-Energy sector lost 6.78%, while the S&P 500 lost 5.98%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be February 2, 2023. The company is expected to report EPS of $3.23, up 42.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.72 billion, up 11.03% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.02% 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 8.78 right now. Its industry sports an average Forward P/E of 11.12, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
We can also see that COP currently has a PEG ratio of 0.46. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.51 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 100, which puts it in the top 40% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.