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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
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ConocoPhillips (COP - Free Report) closed at $100.23 in the latest trading session, marking a +0.23% move from the prior day. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the energy company had gained 5.21% over the past month. This has lagged the Oils-Energy sector's gain of 5.27% and outpaced the S&P 500's gain of 4.63% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be May 5, 2022. The company is expected to report EPS of $2.84, up 311.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.1 billion, up 43.02% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $12.53 per share and revenue of $57.47 billion. These results would represent year-over-year changes of +108.49% and +18.87%, respectively.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 19.78% higher. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 7.98 right now. For comparison, its industry has an average Forward P/E of 13.51, which means ConocoPhillips is trading at a discount to the group.
Investors should also note that COP has a PEG ratio of 0.4 right now. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.4 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% 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.
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ConocoPhillips (COP) Gains But Lags Market: What You Should Know
ConocoPhillips (COP - Free Report) closed at $100.23 in the latest trading session, marking a +0.23% move from the prior day. This move lagged the S&P 500's daily gain of 1.12%. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the energy company had gained 5.21% over the past month. This has lagged the Oils-Energy sector's gain of 5.27% and outpaced the S&P 500's gain of 4.63% in that time.
Wall Street will be looking for positivity from ConocoPhillips as it approaches its next earnings report date. This is expected to be May 5, 2022. The company is expected to report EPS of $2.84, up 311.59% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $15.1 billion, up 43.02% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $12.53 per share and revenue of $57.47 billion. These results would represent year-over-year changes of +108.49% and +18.87%, respectively.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 19.78% higher. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that ConocoPhillips has a Forward P/E ratio of 7.98 right now. For comparison, its industry has an average Forward P/E of 13.51, which means ConocoPhillips is trading at a discount to the group.
Investors should also note that COP has a PEG ratio of 0.4 right now. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.4 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% 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.