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ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
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ConocoPhillips (COP - Free Report) closed at $107.74 in the latest trading session, marking a -3.12% move from the prior day. This move lagged the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
The stock of energy company has fallen by 9.11% in the past month, lagging the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.72, reflecting a 91.55% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $17.05 billion, up 15.71% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.03 per share and a revenue of $66.52 billion, signifying shifts of +62.82% and +8.08%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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, 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 witnessed a 4.19% increase. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 11.09. This indicates a discount in contrast to its industry's Forward P/E of 19.17.
One should further note that COP currently holds a PEG ratio of 1.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.95 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
ConocoPhillips (COP - Free Report) closed at $107.74 in the latest trading session, marking a -3.12% move from the prior day. This move lagged the S&P 500's daily gain of 1.09%. Elsewhere, the Dow saw an upswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.91%.
The stock of energy company has fallen by 9.11% in the past month, lagging the Oils-Energy sector's loss of 7.57% and the S&P 500's gain of 0.29%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.72, reflecting a 91.55% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $17.05 billion, up 15.71% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.03 per share and a revenue of $66.52 billion, signifying shifts of +62.82% and +8.08%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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, 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 witnessed a 4.19% increase. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 11.09. This indicates a discount in contrast to its industry's Forward P/E of 19.17.
One should further note that COP currently holds a PEG ratio of 1.23. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 1.95 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.