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ConocoPhillips (COP) Increases Despite Market Slip: Here's What You Need to Know
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The latest trading session saw ConocoPhillips (COP - Free Report) ending at $113, denoting a +0.23% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.65%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 1.16%.
Shares of the energy company have depreciated by 1.02% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.75% and the S&P 500's gain of 3.4%.
The upcoming earnings release of ConocoPhillips will be of great interest to investors. The company's upcoming EPS is projected at $2.07, signifying a 13.03% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.75 billion, indicating a 4.92% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.82 per share and a revenue of $60.4 billion, indicating changes of +0.57% and +3.12%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.72% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 12.78. This valuation marks a discount compared to its industry's average Forward P/E of 14.03.
One should further note that COP currently holds a PEG ratio of 0.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Integrated - United States industry stood at 1.39 at the close of the market yesterday.
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 179, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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ConocoPhillips (COP) Increases Despite Market Slip: Here's What You Need to Know
The latest trading session saw ConocoPhillips (COP - Free Report) ending at $113, denoting a +0.23% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.65%. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 1.16%.
Shares of the energy company have depreciated by 1.02% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.75% and the S&P 500's gain of 3.4%.
The upcoming earnings release of ConocoPhillips will be of great interest to investors. The company's upcoming EPS is projected at $2.07, signifying a 13.03% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $14.75 billion, indicating a 4.92% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.82 per share and a revenue of $60.4 billion, indicating changes of +0.57% and +3.12%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.72% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 12.78. This valuation marks a discount compared to its industry's average Forward P/E of 14.03.
One should further note that COP currently holds a PEG ratio of 0.7. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Integrated - United States industry stood at 1.39 at the close of the market yesterday.
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 179, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.