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ConocoPhillips (COP) closed the latest trading day at $96.89, indicating a -0.23% change from the previous session's end. The stock fell short of the S&P 500, which registered a loss of 0.04% for the day. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
Shares of the energy company witnessed a loss of 9.57% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 8.03% and the S&P 500's gain of 1.05%.
The upcoming earnings release of ConocoPhillips will be of great interest to investors. On that day, ConocoPhillips is projected to report earnings of $1.89 per share, which would represent a year-over-year decline of 21.25%. In the meantime, our current consensus estimate forecasts the revenue to be $14.64 billion, indicating a 4.36% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.79 per share and a revenue of $56.86 billion, representing changes of -11.17% and -2.93%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.41% increase. Right now, ConocoPhillips possesses a Zacks Rank of #3 (Hold).
In the context of valuation, ConocoPhillips is at present trading with a Forward P/E ratio of 12.47. This denotes a discount relative to the industry's average Forward P/E of 16.77.
It's also important to note that COP currently trades at a PEG ratio of 0.79. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock'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 2.71.