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ConocoPhillips (COP) Rises As Market Takes a Dip: Key Facts
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ConocoPhillips (COP - Free Report) closed the latest trading day at $106.15, indicating a +0.94% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Heading into today, shares of the energy company had lost 3.19% over the past month, outpacing the Oils-Energy sector's loss of 7.26% and lagging the S&P 500's gain of 3.77% in that time.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company is slated to reveal its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.85, showcasing a 14.35% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.9 billion, indicating a 0.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.95 per share and a revenue of $58.94 billion, demonstrating changes of -9.35% and +0.62%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.38% lower. ConocoPhillips is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 13.23. This valuation marks a discount compared to its industry's average Forward P/E of 17.96.
We can also see that COP currently has a PEG ratio of 0.84. 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 currently had an average PEG ratio of 3.02 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% 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) Rises As Market Takes a Dip: Key Facts
ConocoPhillips (COP - Free Report) closed the latest trading day at $106.15, indicating a +0.94% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Heading into today, shares of the energy company had lost 3.19% over the past month, outpacing the Oils-Energy sector's loss of 7.26% and lagging the S&P 500's gain of 3.77% in that time.
The investment community will be paying close attention to the earnings performance of ConocoPhillips in its upcoming release. The company is slated to reveal its earnings on October 31, 2024. The company is forecasted to report an EPS of $1.85, showcasing a 14.35% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $14.9 billion, indicating a 0.24% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $7.95 per share and a revenue of $58.94 billion, demonstrating changes of -9.35% and +0.62%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.38% lower. ConocoPhillips is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 13.23. This valuation marks a discount compared to its industry's average Forward P/E of 17.96.
We can also see that COP currently has a PEG ratio of 0.84. 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 currently had an average PEG ratio of 3.02 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 191, positioning it in the bottom 25% 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.