ConocoPhillips (COP) closed at $65.78 in the latest trading session, marking a -0.09% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the energy company had lost 2.24% in the past month. In that same time, the Oils-Energy sector gained 0.23%, while the S&P 500 gained 3.16%.
Wall Street will be looking for positivity from COP as it approaches its next earnings report date. This is expected to be April 30, 2019. In that report, analysts expect COP to post earnings of $0.90 per share. This would mark a year-over-year decline of 6.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.54 billion, up 6.44% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.81 per share and revenue of $39.36 billion, which would represent changes of -15.89% and +1.64%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for COP. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 9.97% higher within the past month. COP currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, COP currently has a Forward P/E ratio of 17.3. This valuation marks a premium compared to its industry's average Forward P/E of 16.61.
Investors should also note that COP has a PEG ratio of 1.65 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - United States was holding an average PEG ratio of 1.65 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 35, putting it in the top 14% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) : Free Stock Analysis Report
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