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ConocoPhillips (COP) Stock Dips While Market Gains: Key Facts

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The latest trading session saw ConocoPhillips (COP - Free Report) ending at $121.91, denoting a -0.09% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.89%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 1.25%.

Coming into today, shares of the energy company had gained 11.39% in the past month. In that same time, the Oils-Energy sector gained 5.25%, while the S&P 500 gained 3.56%.

Analysts and investors alike will be keeping a close eye on the performance of ConocoPhillips in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.05, showcasing a 13.87% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.72 billion, indicating a 5.16% decline compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.79 per share and a revenue of $60.55 billion, indicating changes of +0.23% and +3.37%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for ConocoPhillips. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.06% lower. At present, ConocoPhillips boasts a Zacks Rank of #3 (Hold).

Looking at valuation, ConocoPhillips is presently trading at a Forward P/E ratio of 13.88. This signifies a discount in comparison to the average Forward P/E of 14.27 for its industry.

It is also worth noting that COP currently has a PEG ratio of 2.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Oil and Gas - Integrated - United States industry held an average PEG ratio of 2.1.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.


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