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ConocoPhillips (COP) Stock Moves -0.37%: What You Should Know
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ConocoPhillips (COP - Free Report) closed the most recent trading day at $91.32, moving -0.37% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.82%. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the energy company had lost 11.44% over the past month. This has lagged the Oils-Energy sector's loss of 6.31% 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, which is expected to be May 5, 2022. On that day, ConocoPhillips is projected to report earnings of $3.16 per share, which would represent year-over-year growth of 357.97%. Our most recent consensus estimate is calling for quarterly revenue of $15.69 billion, up 48.56% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $63.78 billion. These results would represent year-over-year changes of +131.28% and +31.91%, respectively.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 28.97% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 6.6. For comparison, its industry has an average Forward P/E of 12.13, which means ConocoPhillips is trading at a discount to the group.
It is also worth noting that COP currently has a PEG ratio of 0.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.34 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 6, which puts it in the top 3% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ConocoPhillips (COP) Stock Moves -0.37%: What You Should Know
ConocoPhillips (COP - Free Report) closed the most recent trading day at $91.32, moving -0.37% from the previous trading session. This change was narrower than the S&P 500's daily loss of 2.82%. Elsewhere, the Dow lost 2.38%, while the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the energy company had lost 11.44% over the past month. This has lagged the Oils-Energy sector's loss of 6.31% 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, which is expected to be May 5, 2022. On that day, ConocoPhillips is projected to report earnings of $3.16 per share, which would represent year-over-year growth of 357.97%. Our most recent consensus estimate is calling for quarterly revenue of $15.69 billion, up 48.56% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $13.90 per share and revenue of $63.78 billion. These results would represent year-over-year changes of +131.28% and +31.91%, respectively.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 28.97% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 6.6. For comparison, its industry has an average Forward P/E of 12.13, which means ConocoPhillips is trading at a discount to the group.
It is also worth noting that COP currently has a PEG ratio of 0.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.34 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 6, which puts it in the top 3% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.