Back to top

Image: Bigstock

ConocoPhillips (COP) Increases Despite Market Slip: Here's What You Need to Know

Read MoreHide Full Article

In the latest trading session, ConocoPhillips (COP - Free Report) closed at $111.33, marking a +1.75% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.25%. Elsewhere, the Dow saw an upswing of 0.77%, while the tech-heavy Nasdaq depreciated by 0.79%.

The energy company's stock has dropped by 7.43% in the past month, falling short of the Oils-Energy sector's loss of 5.24% and the S&P 500's gain of 3.59%.

The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company's earnings per share (EPS) are projected to be $2.27, reflecting a 23.37% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $15.38 billion, reflecting a 19.4% rise from the equivalent quarter last year.

COP's full-year Zacks Consensus Estimates are calling for earnings of $8.98 per share and revenue of $61.39 billion. These results would represent year-over-year changes of +2.39% and +4.81%, respectively.

It's also important for investors to be aware of any recent modifications to analyst estimates for ConocoPhillips. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 1.69% lower. ConocoPhillips presently features a Zacks Rank of #3 (Hold).

With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 12.18. This valuation marks a discount compared to its industry's average Forward P/E of 15.77.

We can also see that COP currently has a PEG ratio of 1.93. 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. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 2.47 at yesterday's closing price.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 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.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

ConocoPhillips (COP) - free report >>

Published in