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ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, ConocoPhillips (COP) closed at $81.61, marking a -1.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.34%.

Prior to today's trading, shares of the energy company had lost 23.98% over the past month. This has lagged the Oils-Energy sector's loss of 13.93% and the S&P 500's gain of 1.51% 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 August 4, 2022. In that report, analysts expect ConocoPhillips to post earnings of $3.91 per share. This would mark year-over-year growth of 207.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.38 billion, up 70.23% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.59 per share and revenue of $72.43 billion. These totals would mark changes of +142.76% and +49.81%, respectively, from last 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 5.7. Its industry sports an average Forward P/E of 10.7, so we one might conclude that ConocoPhillips is trading at a discount comparatively.

Investors should also note that COP has a PEG ratio of 0.3 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 0.3 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 36, which puts it in the top 15% 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.

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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