We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ConocoPhillips (COP) Stock Dips While Market Gains: Key Facts
Read MoreHide Full Article
ConocoPhillips (COP - Free Report) closed the most recent trading day at $119.95, moving -1.15% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Shares of the energy company witnessed a gain of 0.22% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.7% and the S&P 500's loss of 2.29%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. On that day, ConocoPhillips is projected to report earnings of $2.04 per share, which would represent a year-over-year decline of 43.33%. Alongside, our most recent consensus estimate is anticipating revenue of $14.71 billion, indicating a 31.96% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9 per share and a revenue of $59.29 billion, representing changes of -33.43% and -27.84%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.57% upward. ConocoPhillips presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 13.48. This indicates a discount in contrast to its industry's Forward P/E of 15.37.
It's also important to note that COP currently trades at a PEG ratio of 0.74. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ConocoPhillips (COP) Stock Dips While Market Gains: Key Facts
ConocoPhillips (COP - Free Report) closed the most recent trading day at $119.95, moving -1.15% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.73%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.93%.
Shares of the energy company witnessed a gain of 0.22% over the previous month, beating the performance of the Oils-Energy sector with its loss of 0.7% and the S&P 500's loss of 2.29%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. On that day, ConocoPhillips is projected to report earnings of $2.04 per share, which would represent a year-over-year decline of 43.33%. Alongside, our most recent consensus estimate is anticipating revenue of $14.71 billion, indicating a 31.96% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9 per share and a revenue of $59.29 billion, representing changes of -33.43% and -27.84%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.57% upward. ConocoPhillips presently features a Zacks Rank of #2 (Buy).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 13.48. This indicates a discount in contrast to its industry's Forward P/E of 15.37.
It's also important to note that COP currently trades at a PEG ratio of 0.74. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 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.