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In the latest trading session, ConocoPhillips (COP) closed at $58.78, marking a +0.75% move from the previous day. This change outpaced the S&P 500's 0.54% loss on the day. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq lost 2.41%.
Prior to today's trading, shares of the energy company had gained 32.56% over the past month. This has outpaced the Oils-Energy sector's gain of 12.68% and the S&P 500's loss of 1.04% in that time.
Wall Street will be looking for positivity from COP as it approaches its next earnings report date. In that report, analysts expect COP to post earnings of $0.34 per share. This would mark a year-over-year decline of 24.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.84 billion, up 42.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.70 per share and revenue of $29.64 billion, which would represent changes of +275.26% and +53.95%, respectively, from the prior year.
Any recent changes to analyst estimates for COP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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 14.03% higher within the past month. COP is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, COP is currently trading at a Forward P/E ratio of 34.36. This represents a premium compared to its industry's average Forward P/E of 10.4.
Investors should also note that COP has a PEG ratio of 6.87 right now. 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 was holding an average PEG ratio of 6.87 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ConocoPhillips (COP) : Free Stock Analysis Report
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