Yahoo Finance ConocoPhillips (COP) Rises As Market Takes a Dip: Key Facts
In the latest market close, ConocoPhillips (COP) reached $114.38, with a +0.36% movement compared to the previous day. The stock exceeded the S&P 500, which registered a loss of 0.41% for the day. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 0.71%.
Prior to today's trading, shares of the energy company had gained 0.34% over the past month. This has outpaced the Oils-Energy sector's loss of 1.17% and lagged the S&P 500's gain of 3.53% in that time.
The investment community will be closely monitoring the performance of ConocoPhillips in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2024. In that report, analysts expect ConocoPhillips to post earnings of $2.26 per share. This would mark year-over-year growth of 22.83%. At the same time, our most recent consensus estimate is projecting a revenue of $15.34 billion, reflecting a 19.04% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.95 per share and revenue of $61.24 billion, indicating changes of +2.05% and +4.55%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for ConocoPhillips. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.27% decrease. As of now, ConocoPhillips holds a Zacks Rank of #3 (Hold).
Investors should also note ConocoPhillips's current valuation metrics, including its Forward P/E ratio of 12.73. This expresses a discount compared to the average Forward P/E of 16.15 of its industry.
It's also important to note that COP currently trades at a PEG ratio of 2.02. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - United States industry had an average PEG ratio of 2.57.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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ConocoPhillips (COP): Free Stock Analysis Report
