In the latest trading session, ConocoPhillips (COP - Free Report) closed at $59.88, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's 2.06% loss on the day. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 2.99%.
Prior to today's trading, shares of the energy company had lost 8.37% over the past month. This has was narrower than the Oils-Energy sector's loss of 9.78% and lagged the S&P 500's loss of 6.47% in that time.
Wall Street will be looking for positivity from COP as it approaches its next earnings report date. This is expected to be February 7, 2019. On that day, COP is projected to report earnings of $1.11 per share, which would represent year-over-year growth of 146.67%. Meanwhile, our latest consensus estimate is calling for revenue of $10.29 billion, up 17.8% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $4.53 per share and revenue of $38.74 billion. These results would represent year-over-year changes of +655% and +18.89%, respectively.
It is also important to note the recent changes to analyst estimates for COP. These revisions help to show the ever-changing nature of near-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 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.66% lower. COP is currently a Zacks Rank #3 (Hold).
Investors should also note COP's current valuation metrics, including its Forward P/E ratio of 13.26. Its industry sports an average Forward P/E of 13.26, so we one might conclude that COP is trading at a no noticeable deviation comparatively.
It is also worth noting that COP currently has a PEG ratio of 1.47. 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. COP's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 108, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.