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ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $62.75, marking a -0.21% move from the previous day. This change lagged the S&P 500's 0.75% gain on the day.

Heading into today, shares of the energy company had gained 4.85% over the past month, outpacing the Oils-Energy sector's gain of 0.89% and the S&P 500's gain of 3.52% in that time.

COP will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021. In that report, analysts expect COP to post earnings of $0.92 per share. This would mark year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $9.8 billion, up 143.92% from the year-ago period.

COP's full-year Zacks Consensus Estimates are calling for earnings of $4 per share and revenue of $40.24 billion. These results would represent year-over-year changes of +512.37% and +108.96%, respectively.

Any recent changes to analyst estimates for COP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.

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. The Zacks Consensus EPS estimate has moved 17.56% higher within the past month. COP is currently a Zacks Rank #3 (Hold).

Looking at its valuation, COP is holding a Forward P/E ratio of 15.68. This represents a discount compared to its industry's average Forward P/E of 17.06.

Investors should also note that COP has a PEG ratio of 2.63 right now. 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 1.56 at yesterday's closing price.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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