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ConocoPhillips (COP) Rises Higher Than Market: Key Facts
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ConocoPhillips (COP - Free Report) closed the latest trading day at $105.28, indicating a +0.53% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Heading into today, shares of the energy company had lost 7.97% over the past month, lagging the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2024. The company is predicted to post an EPS of $2.01, indicating a 6.94% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $15.13 billion, indicating a 1.79% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.12 per share and revenue of $59.43 billion, which would represent changes of -7.41% and +1.47%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 4.46% lower. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.89. This expresses a discount compared to the average Forward P/E of 15.93 of its industry.
We can additionally observe that COP currently boasts a PEG ratio of 0.82. 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 had an average PEG ratio of 2.14 as trading concluded yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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ConocoPhillips (COP) Rises Higher Than Market: Key Facts
ConocoPhillips (COP - Free Report) closed the latest trading day at $105.28, indicating a +0.53% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Heading into today, shares of the energy company had lost 7.97% over the past month, lagging the Oils-Energy sector's loss of 2.47% and the S&P 500's gain of 2.06% in that time.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 31, 2024. The company is predicted to post an EPS of $2.01, indicating a 6.94% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $15.13 billion, indicating a 1.79% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.12 per share and revenue of $59.43 billion, which would represent changes of -7.41% and +1.47%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 4.46% lower. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is presently being traded at a Forward P/E ratio of 12.89. This expresses a discount compared to the average Forward P/E of 15.93 of its industry.
We can additionally observe that COP currently boasts a PEG ratio of 0.82. 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 had an average PEG ratio of 2.14 as trading concluded yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.