ConocoPhillips (COP) Stock Moves -0.19%: What You Should Know
The most recent trading session ended with ConocoPhillips (COP) standing at $125.99, reflecting a -0.19% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.28% for the day. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq decreased by 0.42%.
Shares of the energy company witnessed a gain of 12.28% over the previous month, beating the performance of the Oils-Energy sector with its gain of 6.42% and the S&P 500's gain of 2.67%.
The investment community will be closely monitoring the performance of ConocoPhillips in its forthcoming earnings report. The company is scheduled to release its earnings on May 2, 2024. The company is predicted to post an EPS of $2.05, indicating a 13.87% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $14.72 billion, down 5.16% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.79 per share and a revenue of $60.55 billion, representing changes of +0.23% and +3.37%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 3.06% lower. Currently, ConocoPhillips is carrying a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 14.35. This signifies a discount in comparison to the average Forward P/E of 14.65 for its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.87. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 2.22 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP) : Free Stock Analysis Report
