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Why ConocoPhillips (COP) Dipped More Than Broader Market Today
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ConocoPhillips (COP - Free Report) ended the recent trading session at $132.54, demonstrating a -6.15% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
The energy company's shares have seen an increase of 8.87% over the last month, surpassing the Oils-Energy sector's gain of 3.72% and the S&P 500's loss of 2.43%.
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 $2.58, reflecting a 60.25% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.3 billion, showing a 11.47% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.54 per share and a revenue of $70.12 billion, signifying shifts of +71.1% and +13.93%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.95% upward. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 13.39. This signifies a discount in comparison to the average Forward P/E of 21.02 for its industry.
We can also see that COP currently has a PEG ratio of 1.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. COP's industry had an average PEG ratio of 1.82 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Why ConocoPhillips (COP) Dipped More Than Broader Market Today
ConocoPhillips (COP - Free Report) ended the recent trading session at $132.54, demonstrating a -6.15% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
The energy company's shares have seen an increase of 8.87% over the last month, surpassing the Oils-Energy sector's gain of 3.72% and the S&P 500's loss of 2.43%.
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 $2.58, reflecting a 60.25% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.3 billion, showing a 11.47% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $10.54 per share and a revenue of $70.12 billion, signifying shifts of +71.1% and +13.93%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.95% upward. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 13.39. This signifies a discount in comparison to the average Forward P/E of 21.02 for its industry.
We can also see that COP currently has a PEG ratio of 1.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. COP's industry had an average PEG ratio of 1.82 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.