In the latest trading session, ConocoPhillips (COP) closed at $91.40, marking a -1.67% move from the previous day. This change lagged the S&P 500's daily gain of 0.21%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 0.45%.
Shares of the energy company have depreciated by 1.02% over the course of the past month, underperforming the Oils-Energy sector's loss of 0.15%, and the S&P 500's gain of 3.07%.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company is expected to report EPS of $1.49, down 16.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.13 billion, up 11.22% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.42 per share and a revenue of $61.56 billion, indicating changes of -17.59% and +8.09%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.48% decrease. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
In the context of valuation, ConocoPhillips is at present trading with a Forward P/E ratio of 14.48. This denotes a discount relative to the industry average Forward P/E of 16.59.
Also, we should mention that COP has a PEG ratio of 2.43. 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 2.37 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 194, placing it within the bottom 22% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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ConocoPhillips (COP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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