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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
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ConocoPhillips (COP - Free Report) closed the most recent trading day at $103.70, moving +1.64% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the energy company had lost 2.26% over the past month, lagging the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release. In that report, analysts expect ConocoPhillips to post earnings of $2.22 per share. This would mark a year-over-year decline of 43.22%. Our most recent consensus estimate is calling for quarterly revenue of $15.88 billion, down 27.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.70 per share and revenue of $64.74 billion, which would represent changes of -28.25% and -21.2%, respectively, from the prior year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.93% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 10.51. For comparison, its industry has an average Forward P/E of 13.6, which means ConocoPhillips is trading at a discount to the group.
Investors should also note that COP has a PEG ratio of 0.58 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 0.89 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP) Gains As Market Dips: What You Should Know
ConocoPhillips (COP - Free Report) closed the most recent trading day at $103.70, moving +1.64% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.53%.
Heading into today, shares of the energy company had lost 2.26% over the past month, lagging the Oils-Energy sector's gain of 1.09% and the S&P 500's gain of 4.86% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release. In that report, analysts expect ConocoPhillips to post earnings of $2.22 per share. This would mark a year-over-year decline of 43.22%. Our most recent consensus estimate is calling for quarterly revenue of $15.88 billion, down 27.76% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.70 per share and revenue of $64.74 billion, which would represent changes of -28.25% and -21.2%, respectively, from the prior year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 4.93% lower. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 10.51. For comparison, its industry has an average Forward P/E of 13.6, which means ConocoPhillips is trading at a discount to the group.
Investors should also note that COP has a PEG ratio of 0.58 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 0.89 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.