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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $98.41, marking a -1.31% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Heading into today, shares of the energy company had gained 8.5% over the past month, outpacing the Oils-Energy sector's gain of 7.26% and the S&P 500's loss of 5.33% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.46, up 256.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.74 billion, up 39.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.19 per share and revenue of $56.04 billion. These totals would mark changes of +69.55% and +15.9%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 4.62% higher within the past month. ConocoPhillips is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 9.79. This valuation marks a discount compared to its industry's average Forward P/E of 12.15.
Also, we should mention that COP has a PEG ratio of 0.49. 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. COP's industry had an average PEG ratio of 0.49 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $98.41, marking a -1.31% move from the previous day. This change lagged the S&P 500's 1.3% loss on the day. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Heading into today, shares of the energy company had gained 8.5% over the past month, outpacing the Oils-Energy sector's gain of 7.26% and the S&P 500's loss of 5.33% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.46, up 256.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.74 billion, up 39.58% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.19 per share and revenue of $56.04 billion. These totals would mark changes of +69.55% and +15.9%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 4.62% higher within the past month. ConocoPhillips is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 9.79. This valuation marks a discount compared to its industry's average Forward P/E of 12.15.
Also, we should mention that COP has a PEG ratio of 0.49. 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. COP's industry had an average PEG ratio of 0.49 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.