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

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ConocoPhillips (COP - Free Report) closed at $67.80 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500's daily loss of 2.04%.

Prior to today's trading, shares of the energy company had gained 18.7% over the past month. This has outpaced the Oils-Energy sector's gain of 7.1% and the S&P 500's loss of 1.36% in that time.

Wall Street will be looking for positivity from COP as it approaches its next earnings report date. This is expected to be November 2, 2021. The company is expected to report EPS of $1.38, up 545.16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $11.11 billion, up 153.7% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $4.85 per share and revenue of $41.62 billion, which would represent changes of +600% and +116.12%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for COP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.

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. Over the past month, the Zacks Consensus EPS estimate has moved 1.46% higher. COP currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, COP is holding a Forward P/E ratio of 13.76. This represents a discount compared to its industry's average Forward P/E of 14.99.

Meanwhile, COP's PEG ratio is currently 1.75. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.14 based on yesterday's closing prices.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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