ConocoPhillips (COP) closed the most recent trading day at $60.82, moving +1.42% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.49%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 0.8%.
Prior to today's trading, shares of the energy company had gained 14.75% over the past month. This has outpaced the Oils-Energy sector's gain of 6.28% and the S&P 500's gain of 3% in that time.
Wall Street will be looking for positivity from COP as it approaches its next earnings report date. This is expected to be October 29, 2019. In that report, analysts expect COP to post earnings of $0.97 per share. This would mark a year-over-year decline of 28.68%. Meanwhile, our latest consensus estimate is calling for revenue of $9.46 billion, down 6.92% from the prior-year quarter.
COP's full-year Zacks Consensus Estimates are calling for earnings of $3.85 per share and revenue of $37.48 billion. These results would represent year-over-year changes of -15.01% and -3.21%, respectively.
Investors might also notice recent changes to analyst estimates for COP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
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. Within the past 30 days, our consensus EPS projection has moved 4.71% lower. COP is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, COP currently has a Forward P/E ratio of 15.59. This represents a discount compared to its industry's average Forward P/E of 15.69.
Also, we should mention that COP has a PEG ratio of 1.64. 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 was holding an average PEG ratio of 2.07 at yesterday's closing price.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 19% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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