In the latest trading session, ConocoPhillips (COP) closed at $59.04, marking a -1.73% move from the previous day. This change lagged the S&P 500's 0.53% loss on the day. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 1%.
Coming into today, shares of the energy company had lost 4.26% in the past month. In that same time, the Oils-Energy sector lost 1.58%, while the S&P 500 gained 2.68%.
Investors will be hoping for strength from COP as it approaches its next earnings release, which is expected to be July 30, 2019. In that report, analysts expect COP to post earnings of $1.05 per share. This would mark a year-over-year decline of 3.67%. Meanwhile, our latest consensus estimate is calling for revenue of $9.61 billion, up 4% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $4.11 per share and revenue of $38.98 billion. These results would represent year-over-year changes of -9.27% and +0.66%, respectively.
Investors should also note any recent changes to analyst estimates for COP. Recent revisions tend to reflect the latest near-term business trends. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 6.17% lower. COP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, COP is holding a Forward P/E ratio of 14.63. For comparison, its industry has an average Forward P/E of 14.63, which means COP is trading at a no noticeable deviation to the group.
Investors should also note that COP has a PEG ratio of 1.54 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. COP's industry had an average PEG ratio of 1.49 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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