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ConocoPhillips (COP) Stock Moves -1.29%: What You Should Know
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In the latest market close, ConocoPhillips (COP - Free Report) reached $131.20, with a -1.29% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 1.46%. At the same time, the Dow lost 1.24%, and the tech-heavy Nasdaq lost 1.63%.
Shares of the energy company have appreciated by 10.97% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to go public on May 2, 2024. The company's earnings per share (EPS) are projected to be $2.10, reflecting a 11.76% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.73 billion, showing a 5.07% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.21 per share and a revenue of $61.03 billion, indicating changes of +5.02% and +4.19%, respectively, from the former year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 4.4% higher within the past month. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 14.44. This expresses a discount compared to the average Forward P/E of 15.56 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.89. 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 2.3.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
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.
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ConocoPhillips (COP) Stock Moves -1.29%: What You Should Know
In the latest market close, ConocoPhillips (COP - Free Report) reached $131.20, with a -1.29% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 1.46%. At the same time, the Dow lost 1.24%, and the tech-heavy Nasdaq lost 1.63%.
Shares of the energy company have appreciated by 10.97% over the course of the past month, outperforming the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to go public on May 2, 2024. The company's earnings per share (EPS) are projected to be $2.10, reflecting a 11.76% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $14.73 billion, showing a 5.07% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.21 per share and a revenue of $61.03 billion, indicating changes of +5.02% and +4.19%, respectively, from the former year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 4.4% higher within the past month. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 14.44. This expresses a discount compared to the average Forward P/E of 15.56 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.89. 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 2.3.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
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.