We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $103.78, marking a -1.41% move from the previous day. This move lagged the S&P 500's daily loss of 0.6%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Coming into today, shares of the energy company had gained 7% in the past month. In that same time, the Oils-Energy sector gained 11.36%, while the S&P 500 gained 6.22%.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be May 4, 2023. The company is expected to report EPS of $2.11, down 35.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.52 billion, down 19.54% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $10.28 per share and revenue of $64.84 billion. These results would represent year-over-year changes of -23.96% and -21.08%, respectively.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 6.41% lower within the past month. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.24. This represents a discount compared to its industry's average Forward P/E of 10.36.
Investors should also note that COP has a PEG ratio of 0.56 right now. 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 industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $103.78, marking a -1.41% move from the previous day. This move lagged the S&P 500's daily loss of 0.6%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 2.87%.
Coming into today, shares of the energy company had gained 7% in the past month. In that same time, the Oils-Energy sector gained 11.36%, while the S&P 500 gained 6.22%.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be May 4, 2023. The company is expected to report EPS of $2.11, down 35.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.52 billion, down 19.54% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $10.28 per share and revenue of $64.84 billion. These results would represent year-over-year changes of -23.96% and -21.08%, respectively.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 6.41% lower within the past month. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.24. This represents a discount compared to its industry's average Forward P/E of 10.36.
Investors should also note that COP has a PEG ratio of 0.56 right now. 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 industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% 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.