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ConocoPhillips (COP) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with ConocoPhillips (COP - Free Report) standing at $110.49, reflecting a -1.22% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
The energy company's stock has climbed by 8.71% in the past month, exceeding the Oils-Energy sector's loss of 2.26% and the S&P 500's gain of 5.36%.
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 forecasted to report an EPS of $1.96, showcasing a 9.26% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.97 billion, up 0.72% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.03 per share and revenue of $59.06 billion, indicating changes of -8.44% and +0.82%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.59% decrease. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 13.94. This valuation marks a discount compared to its industry's average Forward P/E of 15.67.
We can additionally observe that COP currently boasts a PEG ratio of 0.89. 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 2.29 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 199, this industry ranks in the bottom 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ConocoPhillips (COP) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with ConocoPhillips (COP - Free Report) standing at $110.49, reflecting a -1.22% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.61% gain on the day. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
The energy company's stock has climbed by 8.71% in the past month, exceeding the Oils-Energy sector's loss of 2.26% and the S&P 500's gain of 5.36%.
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 forecasted to report an EPS of $1.96, showcasing a 9.26% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.97 billion, up 0.72% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.03 per share and revenue of $59.06 billion, indicating changes of -8.44% and +0.82%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.59% decrease. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 13.94. This valuation marks a discount compared to its industry's average Forward P/E of 15.67.
We can additionally observe that COP currently boasts a PEG ratio of 0.89. 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 2.29 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 199, this industry ranks in the bottom 22% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.