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ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know
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In the latest market close, ConocoPhillips (COP - Free Report) reached $113.13, with a -0.75% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.55%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.63%.
The the stock of energy company has risen by 2.8% in the past month, leading the Oils-Energy sector's loss of 11.53% and undershooting the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company plans to announce its earnings on August 1, 2024. The company is forecasted to report an EPS of $2.25, showcasing a 22.28% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $15.3 billion, up 18.72% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.95 per share and a revenue of $61.33 billion, signifying shifts of +2.05% and +4.7%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.43% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.73. This indicates a discount in contrast to its industry's Forward P/E of 16.61.
We can also see that COP currently has a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 2.66 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
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) Stock Sinks As Market Gains: What You Should Know
In the latest market close, ConocoPhillips (COP - Free Report) reached $113.13, with a -0.75% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.55%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.63%.
The the stock of energy company has risen by 2.8% in the past month, leading the Oils-Energy sector's loss of 11.53% and undershooting the S&P 500's gain of 4.28%.
Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company plans to announce its earnings on August 1, 2024. The company is forecasted to report an EPS of $2.25, showcasing a 22.28% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $15.3 billion, up 18.72% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.95 per share and a revenue of $61.33 billion, signifying shifts of +2.05% and +4.7%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.43% lower. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.73. This indicates a discount in contrast to its industry's Forward P/E of 16.61.
We can also see that COP currently has a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 2.66 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.
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.