ConocoPhillips (COP) Dips More Than Broader Markets: What You Should Know
ConocoPhillips (COP) closed at $73.97 in the latest trading session, marking a -1.27% move from the prior day. This move lagged the S&P 500's daily loss of 0.69%.
Heading into today, shares of the energy company had gained 34.43% over the past month, outpacing the Oils-Energy sector's gain of 14.29% and the S&P 500's loss of 2.58% in that time.
COP will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. On that day, COP is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 564.52%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, up 156.5% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $5.14 per share and revenue of $42.35 billion. These results would represent year-over-year changes of +629.9% and +119.93%, respectively.
Investors might also notice recent changes to analyst estimates for COP. Recent revisions tend to reflect the latest 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. 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 7.24% higher. COP is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, COP is currently trading at a Forward P/E ratio of 14.59. For comparison, its industry has an average Forward P/E of 15.52, which means COP is trading at a discount to the group.
Also, we should mention that COP has a PEG ratio of 1.85. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 1.16 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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