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ConocoPhillips (COP) Dips More Than Broader Market: What You Should Know
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ConocoPhillips (COP - Free Report) closed the latest trading day at $132.42, indicating a -0.82% change from the previous session's end. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The the stock of energy company has risen by 18.16% in the past month, leading the Oils-Energy sector's gain of 10.76% and the S&P 500's gain of 2.57%.
Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company's upcoming EPS is projected at $2.10, signifying a 11.76% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $14.69 billion, indicating a 5.3% decrease compared to the same quarter of the previous year.
COP's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $60.74 billion. These results would represent year-over-year changes of +4.45% and +3.7%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.91% higher. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 14.57. This expresses a discount compared to the average Forward P/E of 15.61 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Oil and Gas - Integrated - United States industry held an average PEG ratio of 2.28.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 250+ industries.
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.
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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ConocoPhillips (COP) Dips More Than Broader Market: What You Should Know
ConocoPhillips (COP - Free Report) closed the latest trading day at $132.42, indicating a -0.82% change from the previous session's end. This change lagged the S&P 500's 0.04% loss on the day. Meanwhile, the Dow experienced a drop of 0.03%, and the technology-dominated Nasdaq saw an increase of 0.03%.
The the stock of energy company has risen by 18.16% in the past month, leading the Oils-Energy sector's gain of 10.76% and the S&P 500's gain of 2.57%.
Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company plans to announce its earnings on May 2, 2024. The company's upcoming EPS is projected at $2.10, signifying a 11.76% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $14.69 billion, indicating a 5.3% decrease compared to the same quarter of the previous year.
COP's full-year Zacks Consensus Estimates are calling for earnings of $9.16 per share and revenue of $60.74 billion. These results would represent year-over-year changes of +4.45% and +3.7%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.91% higher. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 14.57. This expresses a discount compared to the average Forward P/E of 15.61 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Oil and Gas - Integrated - United States industry held an average PEG ratio of 2.28.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.