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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $103.61, marking a +0.53% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Heading into today, shares of the energy company had gained 3.55% over the past month, lagging the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be August 3, 2023. On that day, ConocoPhillips is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 44.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.9 billion, down 27.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.56 per share and revenue of $64.75 billion. These totals would mark changes of -29.29% and -21.19%, respectively, from last year.
Investors might also notice 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. Within the past 30 days, our consensus EPS projection has moved 4.89% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 10.79. This represents a discount compared to its industry's average Forward P/E of 14.02.
It is also worth noting that COP currently has a PEG ratio of 0.59. 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. COP's industry had an average PEG ratio of 0.91 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 112, putting it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $103.61, marking a +0.53% move from the previous day. The stock lagged the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Heading into today, shares of the energy company had gained 3.55% over the past month, lagging the Oils-Energy sector's gain of 3.61% and the S&P 500's gain of 4.67% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be August 3, 2023. On that day, ConocoPhillips is projected to report earnings of $2.18 per share, which would represent a year-over-year decline of 44.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.9 billion, down 27.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.56 per share and revenue of $64.75 billion. These totals would mark changes of -29.29% and -21.19%, respectively, from last year.
Investors might also notice 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. Within the past 30 days, our consensus EPS projection has moved 4.89% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 10.79. This represents a discount compared to its industry's average Forward P/E of 14.02.
It is also worth noting that COP currently has a PEG ratio of 0.59. 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. COP's industry had an average PEG ratio of 0.91 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 112, putting it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.