ConocoPhillips (COP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
ConocoPhillips (COP) closed at $111 in the latest trading session, marking a -0.16% move from the prior day. This change lagged the S&P 500's daily loss of 0.07%.
The energy company's shares have seen a decrease of 0.6% over the last month, not keeping up with the Oils-Energy sector's gain of 0.36% and the S&P 500's gain of 3.98%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 8, 2024. The company is predicted to post an EPS of $2.53, indicating a 6.64% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $15.57 billion, indicating a 19.18% decrease compared to the same quarter of the previous year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 11.76% decrease. ConocoPhillips presently features a Zacks Rank of #3 (Hold).
With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 10.84. Its industry sports an average Forward P/E of 12, so one might conclude that ConocoPhillips is trading at a discount comparatively.
It's also important to note that COP currently trades at a PEG ratio of 0.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 0.58 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 159, this industry ranks in the bottom 37% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ConocoPhillips (COP) : Free Stock Analysis Report
