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Why ConocoPhillips (COP) Outpaced the Stock Market Today
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The latest trading session saw ConocoPhillips (COP - Free Report) ending at $112.07, denoting a +1.1% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.45%.
Shares of the energy company witnessed a loss of 2.89% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.19% and the S&P 500's gain of 4.91%.
Analysts and investors alike will be keeping a close eye on the performance of ConocoPhillips in its upcoming earnings disclosure. In that report, analysts expect ConocoPhillips to post earnings of $2.72 per share. This would mark year-over-year growth of 0.37%. At the same time, our most recent consensus estimate is projecting a revenue of $15.92 billion, reflecting a 17.37% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.09 per share and a revenue of $59.14 billion, signifying shifts of -32.77% and -28.01%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-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 shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Currently, ConocoPhillips is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 12.2 right now. This expresses a discount compared to the average Forward P/E of 13.4 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 0.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Integrated - United States industry stood at 0.67 at the close of the market yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why ConocoPhillips (COP) Outpaced the Stock Market Today
The latest trading session saw ConocoPhillips (COP - Free Report) ending at $112.07, denoting a +1.1% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.41%. On the other hand, the Dow registered a gain of 0.36%, and the technology-centric Nasdaq increased by 0.45%.
Shares of the energy company witnessed a loss of 2.89% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 2.19% and the S&P 500's gain of 4.91%.
Analysts and investors alike will be keeping a close eye on the performance of ConocoPhillips in its upcoming earnings disclosure. In that report, analysts expect ConocoPhillips to post earnings of $2.72 per share. This would mark year-over-year growth of 0.37%. At the same time, our most recent consensus estimate is projecting a revenue of $15.92 billion, reflecting a 17.37% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.09 per share and a revenue of $59.14 billion, signifying shifts of -32.77% and -28.01%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-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 shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Currently, ConocoPhillips is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 12.2 right now. This expresses a discount compared to the average Forward P/E of 13.4 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 0.67. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Integrated - United States industry stood at 0.67 at the close of the market yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.