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In the latest trading session, ConocoPhillips (COP) closed at $50.79, marking a -0.14% move from the previous day. This move lagged the S&P 500's daily gain of 0.33%.
Heading into today, shares of the energy company had lost 13.45% over the past month, lagging the Oils-Energy sector's loss of 7.64% and the S&P 500's gain of 4.77% in that time.
Wall Street will be looking for positivity from COP as it approaches its next earnings report date. In that report, analysts expect COP to post earnings of $0.59 per share. This would mark year-over-year growth of 31.11%. Meanwhile, our latest consensus estimate is calling for revenue of $7.88 billion, up 63.83% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.97 per share and revenue of $33.86 billion. These totals would mark changes of +406.19% and +75.86%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for COP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 30.03% higher. COP currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, COP is holding a Forward P/E ratio of 17.27. This valuation marks a discount compared to its industry's average Forward P/E of 37.24.
It is also worth noting that COP currently has a PEG ratio of 3.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 3.45 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 61, putting it in the top 25% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.