ConocoPhillips (COP) closed the most recent trading day at $93.47, moving +1.59% from the previous trading session. This change outpaced the S&P 500's 0.55% loss on the day. At the same time, the Dow lost 0.19%, and the tech-heavy Nasdaq lost 0.95%.
Prior to today's trading, shares of the energy company had lost 6.28% lagged the Oils-Energy sector's gain of 1.1% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. In that report, analysts expect ConocoPhillips to post earnings of $1.45 per share. This would mark a year-over-year decline of 18.54%. Our most recent consensus estimate is calling for quarterly revenue of $15.01 billion, up 10.36% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.38 per share and a revenue of $61.26 billion, indicating changes of -18.1% and +7.56%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ConocoPhillips. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.62% decrease. Currently, ConocoPhillips is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 14.43. This expresses a discount compared to the average Forward P/E of 15.75 of its industry.
One should further note that COP currently holds a PEG ratio of 2.42. 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 had an average PEG ratio of 2.39 as trading concluded yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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