ConocoPhillips (COP) ended the recent trading session at $92.23, demonstrating a -2.87% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.79%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 1.38%.
The energy company's stock has climbed by 7.93% in the past month, exceeding the Oils-Energy sector's loss of 2.2% and the S&P 500's gain of 0.87%.
Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company is predicted to post an EPS of $1.23, indicating a 37.88% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.21 billion, down 3.6% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.39 per share and a revenue of $61.27 billion, signifying shifts of -17.97% and +7.58%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 0.88% higher within the past month. ConocoPhillips is currently a Zacks Rank #3 (Hold).
In the context of valuation, ConocoPhillips is at present trading with a Forward P/E ratio of 14.86. This indicates a discount in contrast to its industry's Forward P/E of 18.02.
It is also worth noting that COP currently has a PEG ratio of 2.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Oil and Gas - Integrated - United States industry stood at 2.22 at the close of the market yesterday.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 203, putting it in the bottom 18% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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