In the latest close session, ConocoPhillips (COP) was down 3.15% at $91.71. The stock's change was less than the S&P 500's daily gain of 0.96%. Meanwhile, the Dow experienced a rise of 0.89%, and the technology-dominated Nasdaq saw an increase of 0.94%.
The stock of energy company has risen by 11.15% in the past month, leading the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.
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 $1.41 per share, which would represent a year-over-year decline of 28.79%. Our most recent consensus estimate is calling for quarterly revenue of $14.92 billion, up 5.52% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.21 per share and a revenue of $62.36 billion, representing changes of -20.28% and +9.5%, respectively, from the prior 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.8% upward. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at its valuation, ConocoPhillips is holding a Forward P/E ratio of 15.25. This denotes a discount relative to the industry average Forward P/E of 17.31.
Investors should also note that COP has a PEG ratio of 2.56 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Integrated - United States industry was having an average PEG ratio of 1.7.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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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