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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $71.70, marking a +1.4% move from the previous day. This change outpaced the S&P 500's 0.87% loss on the day. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.43%.
Prior to today's trading, shares of the energy company had lost 1.75% over the past month. This has was narrower than the Oils-Energy sector's loss of 4.84% and lagged the S&P 500's gain of 0.7% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release. On that day, ConocoPhillips is projected to report earnings of $2.24 per share, which would represent year-over-year growth of 1278.95%. Our most recent consensus estimate is calling for quarterly revenue of $14.28 billion, up 136.07% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $5.99 per share and revenue of $45.88 billion. These results would represent year-over-year changes of +717.53% and +138.27%, respectively.
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. 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. 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. The Zacks Consensus EPS estimate has moved 1.98% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 11.81. For comparison, its industry has an average Forward P/E of 13.41, which means ConocoPhillips is trading at a discount to the group.
It is also worth noting that COP currently has a PEG ratio of 0.79. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.78 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $71.70, marking a +1.4% move from the previous day. This change outpaced the S&P 500's 0.87% loss on the day. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.43%.
Prior to today's trading, shares of the energy company had lost 1.75% over the past month. This has was narrower than the Oils-Energy sector's loss of 4.84% and lagged the S&P 500's gain of 0.7% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release. On that day, ConocoPhillips is projected to report earnings of $2.24 per share, which would represent year-over-year growth of 1278.95%. Our most recent consensus estimate is calling for quarterly revenue of $14.28 billion, up 136.07% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $5.99 per share and revenue of $45.88 billion. These results would represent year-over-year changes of +717.53% and +138.27%, respectively.
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. 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. 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. The Zacks Consensus EPS estimate has moved 1.98% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 11.81. For comparison, its industry has an average Forward P/E of 13.41, which means ConocoPhillips is trading at a discount to the group.
It is also worth noting that COP currently has a PEG ratio of 0.79. 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. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.78 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.