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ConocoPhillips (COP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw ConocoPhillips (COP - Free Report) ending at $96.19, denoting a -1.6% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.91%. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.
The the stock of energy company has fallen by 0.66% in the past month, leading the Oils-Energy sector's loss of 4.23% and the S&P 500's loss of 7.38%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. On that day, ConocoPhillips is projected to report earnings of $2.03 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $16.33 billion, up 12.83% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.10 per share and revenue of $64.82 billion, which would represent changes of +3.98% and +13.81%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.72% lower. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.06. For comparison, its industry has an average Forward P/E of 13.92, which means ConocoPhillips is trading at a discount to the group.
One should further note that COP currently holds a PEG ratio of 0.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Oil and Gas - Integrated - United States industry was having an average PEG ratio of 1.41.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ConocoPhillips (COP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw ConocoPhillips (COP - Free Report) ending at $96.19, denoting a -1.6% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.91%. Elsewhere, the Dow saw a downswing of 1.5%, while the tech-heavy Nasdaq depreciated by 1.96%.
The the stock of energy company has fallen by 0.66% in the past month, leading the Oils-Energy sector's loss of 4.23% and the S&P 500's loss of 7.38%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. On that day, ConocoPhillips is projected to report earnings of $2.03 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $16.33 billion, up 12.83% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.10 per share and revenue of $64.82 billion, which would represent changes of +3.98% and +13.81%, respectively, from the prior year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.72% lower. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.06. For comparison, its industry has an average Forward P/E of 13.92, which means ConocoPhillips is trading at a discount to the group.
One should further note that COP currently holds a PEG ratio of 0.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Oil and Gas - Integrated - United States industry was having an average PEG ratio of 1.41.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 41, this industry ranks in the top 17% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.