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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 $104.22, marking a -1.5% move from the previous day. This change lagged the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Coming into today, shares of the energy company had lost 3.75% in the past month. In that same time, the Oils-Energy sector lost 2.63%, while the S&P 500 lost 3.83%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. In that report, analysts expect ConocoPhillips to post earnings of $2.43 per share. This would mark a year-over-year decline of 25.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.63 billion, down 18.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.99 per share and revenue of $65.7 billion, which would represent changes of -18.71% and -20.02%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 9.63. Its industry sports an average Forward P/E of 11.1, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
We can also see that COP currently has a PEG ratio of 0.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COP's industry had an average PEG ratio of 0.44 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 110, putting it in the top 44% 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.
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
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $104.22, marking a -1.5% move from the previous day. This change lagged the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Coming into today, shares of the energy company had lost 3.75% in the past month. In that same time, the Oils-Energy sector lost 2.63%, while the S&P 500 lost 3.83%.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. In that report, analysts expect ConocoPhillips to post earnings of $2.43 per share. This would mark a year-over-year decline of 25.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.63 billion, down 18.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.99 per share and revenue of $65.7 billion, which would represent changes of -18.71% and -20.02%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 4% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 9.63. Its industry sports an average Forward P/E of 11.1, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
We can also see that COP currently has a PEG ratio of 0.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. COP's industry had an average PEG ratio of 0.44 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 110, putting it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.