ConocoPhillips (COP) closed at $96.92 in the latest trading session, marking a +0.03% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.49%.
Heading into today, shares of the energy company had lost 9.78% over the past month, lagging the Oils-Energy sector's loss of 8.07% and the S&P 500's gain of 0.4% in that time.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. On that day, ConocoPhillips is projected to report earnings of $1.89 per share, which would represent a year-over-year decline of 21.25%. Our most recent consensus estimate is calling for quarterly revenue of $14.64 billion, down 4.36% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.79 per share and a revenue of $56.86 billion, indicating changes of -11.17% and -2.93%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ConocoPhillips. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.41% upward. Right now, ConocoPhillips possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, ConocoPhillips is currently exchanging hands at a Forward P/E ratio of 12.44. This valuation marks a discount compared to its industry's average Forward P/E of 16.79.
We can additionally observe that COP currently boasts a PEG ratio of 0.79. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Oil and Gas - Integrated - United States industry was having an average PEG ratio of 2.72.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 147, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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