Yahoo Finance ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know
ConocoPhillips (COP) closed at $103.89 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq lost 4.09%.
Heading into today, shares of the energy company had gained 4.66% over the past month, outpacing the Oils-Energy sector's gain of 2.63% and the S&P 500's gain of 3.98% in that time.
Investors will be hoping for strength from ConocoPhillips as it approaches its next earnings release. On that day, ConocoPhillips is projected to report earnings of $2.37 per share, which would represent a year-over-year decline of 39.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.88 billion, down 27.76% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.05 per share and revenue of $64.74 billion. These totals would mark changes of -25.67% and -21.2%, respectively, from last year.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 past month, the Zacks Consensus EPS estimate has moved 0.84% lower. ConocoPhillips is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 10.41. For comparison, its industry has an average Forward P/E of 13.52, which means ConocoPhillips is trading at a discount to the group.
It is also worth noting that COP currently has a PEG ratio of 0.57. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ConocoPhillips (COP) : Free Stock Analysis Report
