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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
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ConocoPhillips (COP - Free Report) closed at $85.63 in the latest trading session, marking a -1.89% move from the prior day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the energy company had gained 22.79% over the past month. This has outpaced the Oils-Energy sector's gain of 14.22% and the S&P 500's loss of 1.81% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. On that day, ConocoPhillips is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 1242.11%. Our most recent consensus estimate is calling for quarterly revenue of $14.39 billion, up 137.88% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.32% higher. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.31. This represents a discount compared to its industry's average Forward P/E of 12.63.
Investors should also note that COP has a PEG ratio of 0.67 right now. 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 0.53 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 206, which puts it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
ConocoPhillips (COP - Free Report) closed at $85.63 in the latest trading session, marking a -1.89% move from the prior day. This change lagged the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the energy company had gained 22.79% over the past month. This has outpaced the Oils-Energy sector's gain of 14.22% and the S&P 500's loss of 1.81% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. On that day, ConocoPhillips is projected to report earnings of $2.17 per share, which would represent year-over-year growth of 1242.11%. Our most recent consensus estimate is calling for quarterly revenue of $14.39 billion, up 137.88% from the year-ago period.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 1.32% higher. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.31. This represents a discount compared to its industry's average Forward P/E of 12.63.
Investors should also note that COP has a PEG ratio of 0.67 right now. 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 0.53 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 206, which puts it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.