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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
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ConocoPhillips (COP - Free Report) closed at $100.47 in the latest trading session, marking a -1.59% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 10.47%.
Prior to today's trading, shares of the energy company had gained 4.25% over the past month. This has lagged the Oils-Energy sector's gain of 7.91% and outpaced the S&P 500's gain of 2.61% in that time.
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 $2.02, down 38.23% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.31 billion, down 20.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $64.42 billion. These totals would mark changes of -25.89% and -21.59%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 8.76% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.19. This represents a discount compared to its industry's average Forward P/E of 10.56.
We can also see that COP currently has a PEG ratio of 0.56. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.52 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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) Dips More Than Broader Markets: What You Should Know
ConocoPhillips (COP - Free Report) closed at $100.47 in the latest trading session, marking a -1.59% move from the prior day. This change lagged the S&P 500's daily loss of 0.38%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 10.47%.
Prior to today's trading, shares of the energy company had gained 4.25% over the past month. This has lagged the Oils-Energy sector's gain of 7.91% and outpaced the S&P 500's gain of 2.61% in that time.
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 $2.02, down 38.23% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.31 billion, down 20.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.02 per share and revenue of $64.42 billion. These totals would mark changes of -25.89% and -21.59%, 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 8.76% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.19. This represents a discount compared to its industry's average Forward P/E of 10.56.
We can also see that COP currently has a PEG ratio of 0.56. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.52 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% 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.