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ConocoPhillips (COP) closed the latest trading day at $103.20, indicating a +0.63% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.12%. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, lost 2.04%.
The energy company's shares have seen an increase of 5.63% over the last month, surpassing the Oils-Energy sector's gain of 3.39% and the S&P 500's loss of 2.91%.
Investors will be eagerly watching for the performance of ConocoPhillips in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.04, indicating a 0.49% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $16.34 billion, up 12.89% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.12 per share and a revenue of $64.6 billion, signifying shifts of +4.24% and +13.43%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.47% lower. Currently, ConocoPhillips is carrying a Zacks Rank of #3 (Hold).
In the context of valuation, ConocoPhillips is at present trading with a Forward P/E ratio of 12.62. This expresses a discount compared to the average Forward P/E of 15.54 of its industry.
We can additionally observe that COP currently boasts a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. COP's industry had an average PEG ratio of 1.23 as of yesterday's close.
The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons of all 250+ industries.