In the latest trading session, ConocoPhillips (COP - Free Report) closed at $112.33, marking a -1.8% move from the previous day. This change was narrower than the S&P 500's daily loss of 4.32%. Meanwhile, the Dow lost 3.94%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the energy company had gained 13.52% over the past month, outpacing the Oils-Energy sector's gain of 2.43% and the S&P 500's loss of 3.75% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release. On that day, ConocoPhillips is projected to report earnings of $3.95 per share, which would represent year-over-year growth of 123.16%. Meanwhile, our latest consensus estimate is calling for revenue of $18.41 billion, up 58.45% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $15.13 per share and revenue of $78.07 billion. These results would represent year-over-year changes of +151.75% and +61.47%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 2.14% higher. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 7.56. For comparison, its industry has an average Forward P/E of 10.88, which means ConocoPhillips is trading at a discount to the group.
Meanwhile, COP's PEG ratio is currently 0.36. 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 0.39 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 211, which puts it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $112.33, marking a -1.8% move from the previous day. This change was narrower than the S&P 500's daily loss of 4.32%. Meanwhile, the Dow lost 3.94%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the energy company had gained 13.52% over the past month, outpacing the Oils-Energy sector's gain of 2.43% and the S&P 500's loss of 3.75% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release. On that day, ConocoPhillips is projected to report earnings of $3.95 per share, which would represent year-over-year growth of 123.16%. Meanwhile, our latest consensus estimate is calling for revenue of $18.41 billion, up 58.45% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $15.13 per share and revenue of $78.07 billion. These results would represent year-over-year changes of +151.75% and +61.47%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Within the past 30 days, our consensus EPS projection has moved 2.14% higher. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 7.56. For comparison, its industry has an average Forward P/E of 10.88, which means ConocoPhillips is trading at a discount to the group.
Meanwhile, COP's PEG ratio is currently 0.36. 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 0.39 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 211, which puts it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Get the latest research report on COP - FREE