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ConocoPhillips (COP) closed the most recent trading day at $87.06, moving -0.06% from the previous trading session. This change was narrower than the S&P 500's 0.15% loss on the day. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Prior to today's trading, shares of the energy company had gained 19.13% over the past month. This has outpaced the Oils-Energy sector's gain of 10.7% and the S&P 500's loss of 7.66% in that time.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. The company is expected to report EPS of $2.18, up 1247.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $14.39 billion, up 137.88% from the year-ago period.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.71% higher. ConocoPhillips is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 10.25. This represents a discount compared to its industry's average Forward P/E of 11.67.
It is also worth noting that COP currently has a PEG ratio of 0.67. 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. COP's industry had an average PEG ratio of 0.57 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% 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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