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ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know

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  • COP

ConocoPhillips (COP) closed at $74.11 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily gain of 0.31%. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.48%.

Heading into today, shares of the energy company had lost 1.56% over the past month, outpacing the Oils-Energy sector's loss of 1.86% and lagging the S&P 500's loss of 0.04% in that time.

ConocoPhillips will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.24, up 1278.95% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.95 billion, up 130.55% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.94 per share and revenue of $45.35 billion, which would represent changes of +712.37% and +135.52%, respectively, from the prior 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 1.26% higher within the past month. ConocoPhillips is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 12.55. Its industry sports an average Forward P/E of 14.91, so we one might conclude that ConocoPhillips is trading at a discount comparatively.

Investors should also note that COP has a PEG ratio of 0.84 right now. 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. Oil and Gas - Integrated - United States stocks are, on average, holding a PEG ratio of 0.84 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 43, which puts it in the top 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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