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ConocoPhillips (COP) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $104.15, marking a +1.44% move from the previous day. This move outpaced the S&P 500's daily gain of 1.22%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 4.63%.
Heading into today, shares of the energy company had gained 1.95% over the past month, lagging the Oils-Energy sector's gain of 2.49% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. On that day, ConocoPhillips is projected to report earnings of $2.22 per share, which would represent a year-over-year decline of 43.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.88 billion, down 27.76% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $9.70 per share and revenue of $64.74 billion. These results would represent year-over-year changes of -28.25% and -21.2%, respectively.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 4.8% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 10.58 right now. Its industry sports an average Forward P/E of 13.36, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Investors should also note that COP has a PEG ratio of 0.58 right now. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.89 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 171, putting it in the bottom 33% 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
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $104.15, marking a +1.44% move from the previous day. This move outpaced the S&P 500's daily gain of 1.22%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 4.63%.
Heading into today, shares of the energy company had gained 1.95% over the past month, lagging the Oils-Energy sector's gain of 2.49% and the S&P 500's gain of 6.22% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. On that day, ConocoPhillips is projected to report earnings of $2.22 per share, which would represent a year-over-year decline of 43.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.88 billion, down 27.76% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $9.70 per share and revenue of $64.74 billion. These results would represent year-over-year changes of -28.25% and -21.2%, respectively.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 4.8% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 10.58 right now. Its industry sports an average Forward P/E of 13.36, so we one might conclude that ConocoPhillips is trading at a discount comparatively.
Investors should also note that COP has a PEG ratio of 0.58 right now. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.89 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 171, putting it in the bottom 33% 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.