ConocoPhillips (COP) closed the most recent trading day at $64.67, moving +0.11% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.08%.
Coming into today, shares of the energy company had gained 5.81% in the past month. In that same time, the Oils-Energy sector gained 4.92%, while the S&P 500 gained 3.81%.
COP will be looking to display strength as it nears its next earnings release, which is expected to be February 4, 2020. The company is expected to report EPS of $0.77, down 31.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.87 billion, down 33.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.63 per share and revenue of $36.41 billion, which would represent changes of -19.87% and -5.98%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for COP. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. COP is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note COP's current valuation metrics, including its Forward P/E ratio of 17.82. This represents a no noticeable deviation compared to its industry's average Forward P/E of 17.82.
Also, we should mention that COP has a PEG ratio of 1.88. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 2.19 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 76, which puts it in the top 30% 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.
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