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ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, ConocoPhillips (COP) closed at $88.93, marking a -1.96% move from the previous day. This change lagged the S&P 500's 0.99% gain on the day. Elsewhere, the Dow gained 0.51%, while the tech-heavy Nasdaq lost 0.31%.

Heading into today, shares of the energy company had lost 2.53% over the past month, lagging the Oils-Energy sector's gain of 0.86% and the S&P 500's gain of 7.91% in that time.

ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. On that day, ConocoPhillips is projected to report earnings of $3.67 per share, which would represent year-over-year growth of 188.98%. Our most recent consensus estimate is calling for quarterly revenue of $17.61 billion, up 72.46% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $14.42 per share and revenue of $72.71 billion. These totals would mark changes of +139.93% and +50.38%, respectively, from last year.

Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.11% lower within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).

Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 6.29. For comparison, its industry has an average Forward P/E of 11.18, which means ConocoPhillips is trading at a discount to the group.

Meanwhile, COP's PEG ratio is currently 0.3. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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