In the latest close session, ConocoPhillips (COP) was up +1.4% at $116.98. The stock's performance was ahead of the S&P 500's daily gain of 0.5%. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq gained 0.31%.
Heading into today, shares of the energy company had lost 3.03% over the past month, lagging the Oils-Energy sector's loss of 2.9% and the S&P 500's loss of 0.23%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.72, marking a 91.55% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.05 billion, up 15.71% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.03 per share and revenue of $66.52 billion, indicating changes of +62.82% and +8.08%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ConocoPhillips. 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 business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 4.27% higher. ConocoPhillips is currently a Zacks Rank #3 (Hold).
Looking at valuation, ConocoPhillips is presently trading at a Forward P/E ratio of 11.5. This represents a discount compared to its industry average Forward P/E of 19.81.
One should further note that COP currently holds a PEG ratio of 1.28. 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 2.01.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 199, placing it within the bottom 19% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ConocoPhillips (COP): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).