ConocoPhillips (COP - Free Report) closed the most recent trading day at $65.42, moving -0.98% from the previous trading session. This move lagged the S&P 500's daily loss of 0.29%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the energy company had gained 5.56% over the past month, lagging the Oils-Energy sector's gain of 6.26% and outpacing the S&P 500's gain of 4.56% 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 4, 2020. In that report, analysts expect COP to post earnings of $0.80 per share. This would mark a year-over-year decline of 29.2%. Our most recent consensus estimate is calling for quarterly revenue of $6.87 billion, down 33.68% from the year-ago period.
Investors might also notice recent changes to analyst estimates for COP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.35% higher. COP is currently a Zacks Rank #3 (Hold).
In terms of valuation, COP is currently trading at a Forward P/E ratio of 22.23. For comparison, its industry has an average Forward P/E of 20.04, which means COP is trading at a premium to the group.
It is also worth noting that COP currently has a PEG ratio of 2.34. 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. COP's industry had an average PEG ratio of 3.22 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 35, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.