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ConocoPhillips (COP) Outpaces Stock Market Gains: What You Should Know
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ConocoPhillips (COP - Free Report) closed at $109.04 in the latest trading session, marking a +1.4% move from the prior day. This move outpaced the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Prior to today's trading, shares of the energy company had gained 12.9% over the past month. This has outpaced the Oils-Energy sector's gain of 3.53% and the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $2.16, down 33.94% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.63 billion, down 18.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.51 per share and revenue of $64.82 billion, which would represent changes of -22.26% and -21.1%, respectively, from the prior year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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.
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 4.36% lower within the past month. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 10.23. Its industry sports an average Forward P/E of 10.7, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Meanwhile, COP's PEG ratio is currently 0.56. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.53 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 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
ConocoPhillips (COP - Free Report) closed at $109.04 in the latest trading session, marking a +1.4% move from the prior day. This move outpaced the S&P 500's daily gain of 1.33%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 2.94%.
Prior to today's trading, shares of the energy company had gained 12.9% over the past month. This has outpaced the Oils-Energy sector's gain of 3.53% and the S&P 500's gain of 6.11% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $2.16, down 33.94% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.63 billion, down 18.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.51 per share and revenue of $64.82 billion, which would represent changes of -22.26% and -21.1%, respectively, from the prior year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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.
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 4.36% lower within the past month. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 10.23. Its industry sports an average Forward P/E of 10.7, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Meanwhile, COP's PEG ratio is currently 0.56. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.53 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 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.