ConocoPhillips (COP) Registers a Bigger Fall Than the Market: Important Facts to Note
ConocoPhillips (COP) closed at $114.54 in the latest trading session, marking a -0.36% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.36%.
The the stock of energy company has risen by 2.64% in the past month, leading the Oils-Energy sector's gain of 0.19% and undershooting the S&P 500's gain of 5.21%.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company is forecasted to report an EPS of $2.72, showcasing a 0.37% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $15.92 billion, reflecting a 17.37% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.09 per share and a revenue of $59.14 billion, signifying shifts of -32.77% and -28.01%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.65% higher within the past month. At present, ConocoPhillips boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 12.65. This represents a discount compared to its industry's average Forward P/E of 14.21.
Meanwhile, COP's PEG ratio is currently 0.7. 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. COP's industry had an average PEG ratio of 0.68 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 179, positioning it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ConocoPhillips (COP) : Free Stock Analysis Report
