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ConocoPhillips (COP) Increases Yet Falls Behind Market: What Investors Need to Know
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ConocoPhillips (COP - Free Report) closed the most recent trading day at $125.31, moving +0.36% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.06%. Meanwhile, the Dow experienced a rise of 0.93%, and the technology-dominated Nasdaq saw an increase of 1.2%.
The the stock of energy company has risen by 1.04% in the past month, leading the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
The investment community will be closely monitoring the performance of ConocoPhillips in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $2.21, marking a 38.61% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $14.68 billion, showing a 32.06% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.17 per share and revenue of $59.12 billion. These totals would mark changes of -32.17% and -28.04%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.85% upward. Right now, ConocoPhillips possesses a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 13.62. This indicates a discount in contrast to its industry's Forward P/E of 15.54.
One should further note that COP currently holds a PEG ratio of 0.75. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Increases Yet Falls Behind Market: What Investors Need to Know
ConocoPhillips (COP - Free Report) closed the most recent trading day at $125.31, moving +0.36% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.06%. Meanwhile, the Dow experienced a rise of 0.93%, and the technology-dominated Nasdaq saw an increase of 1.2%.
The the stock of energy company has risen by 1.04% in the past month, leading the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
The investment community will be closely monitoring the performance of ConocoPhillips in its forthcoming earnings report. The company is scheduled to release its earnings on November 2, 2023. It is anticipated that the company will report an EPS of $2.21, marking a 38.61% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $14.68 billion, showing a 32.06% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.17 per share and revenue of $59.12 billion. These totals would mark changes of -32.17% and -28.04%, 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.85% upward. Right now, ConocoPhillips possesses a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 13.62. This indicates a discount in contrast to its industry's Forward P/E of 15.54.
One should further note that COP currently holds a PEG ratio of 0.75. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.