ConocoPhillips (COP - Free Report) closed at $57.90 in the latest trading session, marking a +0.38% move from the prior day. This move outpaced the S&P 500's daily loss of 0.53%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq lost 1.13%.
Prior to today's trading, shares of the energy company had gained 10.31% over the past month. This has outpaced the Oils-Energy sector's gain of 7.67% and the S&P 500's gain of 3.59% in that time.
Investors will be hoping for strength from COP as it approaches its next earnings release, which is expected to be October 29, 2019. The company is expected to report EPS of $0.97, down 28.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.46 billion, down 6.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.85 per share and revenue of $37.48 billion. These totals would mark changes of -15.01% and -3.21%, respectively, from last year.
Any recent changes to analyst estimates for COP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 4.71% lower within the past month. COP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, COP is currently trading at a Forward P/E ratio of 14.99. Its industry sports an average Forward P/E of 15.31, so we one might conclude that COP is trading at a discount comparatively.
It is also worth noting that COP currently has a PEG ratio of 1.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 1.93 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 173, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.