The latest trading session saw ConocoPhillips (COP – Free Report) ending at $101.09, denoting a +1.01% adjustment from its last day’s close. The stock’s change was less than the S&P 500’s daily gain of 1.26%. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq added 1.77%.
Heading into today, shares of the energy company had lost 4.17% over the past month, outpacing the Oils-Energy sector’s loss of 5.1% and lagging the S&P 500’s loss of 2.82% in that time.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company’s earnings per share (EPS) are projected to be $1.89, reflecting a 21.25% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $14.64 billion, reflecting a 4.36% fall from the equivalent quarter last year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.57% lower. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 12.52. This represents a discount compared to its industry’s average Forward P/E of 13.97.
One should further note that COP currently holds a PEG ratio of 0.8. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. As of the close of trade yesterday, the Oil and Gas – Integrated – United States industry held an average PEG ratio of 2.66.
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 47, placing it within the top 19% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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