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ConocoPhillips (COP) Stock Moves -0.77%: What You Should Know
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In the latest trading session, ConocoPhillips (COP - Free Report) closed at $120.14, marking a -0.77% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the energy company had gained 3.02% over the past month. This has lagged the Oils-Energy sector's gain of 4.06% and outpaced the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be November 2, 2023. The company is expected to report EPS of $2.15, down 40.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.39 billion, down 28.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.69 per share and revenue of $59.99 billion. These totals would mark changes of -35.72% and -26.98%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.29% 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 13.93. This represents a discount compared to its industry's average Forward P/E of 15.83.
Also, we should mention that COP has a PEG ratio of 0.77. 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 0.77 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 106, putting it in the top 43% 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) Stock Moves -0.77%: What You Should Know
In the latest trading session, ConocoPhillips (COP - Free Report) closed at $120.14, marking a -0.77% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the energy company had gained 3.02% over the past month. This has lagged the Oils-Energy sector's gain of 4.06% and outpaced the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release, which is expected to be November 2, 2023. The company is expected to report EPS of $2.15, down 40.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.39 billion, down 28.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.69 per share and revenue of $59.99 billion. These totals would mark changes of -35.72% and -26.98%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.29% 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 13.93. This represents a discount compared to its industry's average Forward P/E of 15.83.
Also, we should mention that COP has a PEG ratio of 0.77. 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 0.77 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 106, putting it in the top 43% 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.