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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 $107.75, moving +1.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the energy company had lost 1.25% over the past month, outpacing the Oils-Energy sector's loss of 3.35% and lagging the S&P 500's gain of 1.48% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. On that day, ConocoPhillips is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 27.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.81 billion, down 18.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.47 per share and revenue of $65.58 billion. These totals would mark changes of -15.16% and -20.17%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 9.27. This represents a discount compared to its industry's average Forward P/E of 10.62.
It is also worth noting that COP currently has a PEG ratio of 0.51. 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 0.51 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 104, putting it in the top 42% 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) Gains As Market Dips: What You Should Know
ConocoPhillips (COP - Free Report) closed the most recent trading day at $107.75, moving +1.36% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq lost 1.88%.
Heading into today, shares of the energy company had lost 1.25% over the past month, outpacing the Oils-Energy sector's loss of 3.35% and lagging the S&P 500's gain of 1.48% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be May 4, 2023. On that day, ConocoPhillips is projected to report earnings of $2.36 per share, which would represent a year-over-year decline of 27.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.81 billion, down 18.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.47 per share and revenue of $65.58 billion. These totals would mark changes of -15.16% and -20.17%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate has moved 0.25% higher within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 9.27. This represents a discount compared to its industry's average Forward P/E of 10.62.
It is also worth noting that COP currently has a PEG ratio of 0.51. 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 0.51 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 104, putting it in the top 42% 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.