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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
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ConocoPhillips (COP - Free Report) closed the most recent trading day at $92.23, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the energy company had lost 20.67% in the past month. In that same time, the Oils-Energy sector lost 10.56%, while the S&P 500 lost 0.62%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be August 4, 2022. In that report, analysts expect ConocoPhillips to post earnings of $3.95 per share. This would mark year-over-year growth of 211.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.09 billion, up 67.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15 per share and revenue of $71.75 billion, which would represent changes of +149.58% and +48.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 1.48% higher within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 6.06 right now. For comparison, its industry has an average Forward P/E of 11.25, which means ConocoPhillips is trading at a discount to the group.
Also, we should mention that COP has a PEG ratio of 0.32. 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 was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
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
ConocoPhillips (COP - Free Report) closed the most recent trading day at $92.23, moving +1.45% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the energy company had lost 20.67% in the past month. In that same time, the Oils-Energy sector lost 10.56%, while the S&P 500 lost 0.62%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be August 4, 2022. In that report, analysts expect ConocoPhillips to post earnings of $3.95 per share. This would mark year-over-year growth of 211.02%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.09 billion, up 67.41% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15 per share and revenue of $71.75 billion, which would represent changes of +149.58% and +48.39%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate has moved 1.48% higher within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 6.06 right now. For comparison, its industry has an average Forward P/E of 11.25, which means ConocoPhillips is trading at a discount to the group.
Also, we should mention that COP has a PEG ratio of 0.32. 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 was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.