ConocoPhillips (COP) Stock Moves -1.34%: What You Should Know
In the latest trading session, ConocoPhillips (COP) closed at $98.37, marking a -1.34% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.65%. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Heading into today, shares of the energy company had lost 5.32% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's gain of 0.3% 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 $2.43 per share, which would represent a year-over-year decline of 25.69%. Our most recent consensus estimate is calling for quarterly revenue of $15.63 billion, down 18.95% from the year-ago period.
COP's full-year Zacks Consensus Estimates are calling for earnings of $11.79 per share and revenue of $65.7 billion. These results would represent year-over-year changes of -12.8% and -20.02%, respectively.
Any recent changes to analyst estimates for ConocoPhillips should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 3.1% higher. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 8.46. This valuation marks a discount compared to its industry's average Forward P/E of 10.96.
It is also worth noting that COP currently has a PEG ratio of 0.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - United States industry currently had an average PEG ratio of 0.44 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% 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.
To follow COP in the coming trading sessions, be sure to utilize Zacks.com.
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ConocoPhillips (COP) : Free Stock Analysis Report