In the latest trading session, ConocoPhillips (COP - Free Report) closed at $62.62, marking a -0.82% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.9%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.93%.
Prior to today's trading, shares of the energy company had lost 2.86% over the past month. This has was narrower than the Oils-Energy sector's loss of 3.11% and lagged the S&P 500's gain of 3.3% in that time.
Investors will be hoping for strength from COP as it approaches its next earnings release, which is expected to be February 4, 2020. In that report, analysts expect COP to post earnings of $0.83 per share. This would mark a year-over-year decline of 26.55%. Our most recent consensus estimate is calling for quarterly revenue of $6.87 billion, down 33.68% from the year-ago period.
Any recent changes to analyst estimates for COP should also be noted by investors. 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.
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 10.58% higher. COP is currently a Zacks Rank #2 (Buy).
Looking at its valuation, COP is holding a Forward P/E ratio of 19.28. This represents a discount compared to its industry's average Forward P/E of 19.37.
Meanwhile, COP's PEG ratio is currently 2.03. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. COP's industry had an average PEG ratio of 2.75 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.