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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
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ConocoPhillips (COP - Free Report) closed the most recent trading day at $116.39, moving +0.94% from the previous trading session. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Prior to today's trading, shares of the energy company had lost 6.64% over the past month. This has lagged the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be February 2, 2023. On that day, ConocoPhillips is projected to report earnings of $3.23 per share, which would represent year-over-year growth of 42.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.72 billion, up 11.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.09 per share and revenue of $79.49 billion, which would represent changes of +134.44% and +64.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 8.18. For comparison, its industry has an average Forward P/E of 8.18, which means ConocoPhillips is trading at a no noticeable deviation to the group.
Also, we should mention that COP has a PEG ratio of 0.42. 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 0.48 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
ConocoPhillips (COP - Free Report) closed the most recent trading day at $116.39, moving +0.94% from the previous trading session. This change lagged the S&P 500's 1.75% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 7.84%.
Prior to today's trading, shares of the energy company had lost 6.64% over the past month. This has lagged the Oils-Energy sector's loss of 3.11% and the S&P 500's loss of 4.4% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be February 2, 2023. On that day, ConocoPhillips is projected to report earnings of $3.23 per share, which would represent year-over-year growth of 42.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.72 billion, up 11.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $14.09 per share and revenue of $79.49 billion, which would represent changes of +134.44% and +64.4%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.3% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 8.18. For comparison, its industry has an average Forward P/E of 8.18, which means ConocoPhillips is trading at a no noticeable deviation to the group.
Also, we should mention that COP has a PEG ratio of 0.42. 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 0.48 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.