In the latest trading session, ConocoPhillips (COP) closed at $105.67, marking a -0.45% move from the previous day. This change lagged the S&P 500's 0.4% gain on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.63%.

Coming into today, shares of the energy company had lost 3.98% in the past month. In that same time, the Oils-Energy sector lost 7.82%, while the S&P 500 gained 3.76%.

Market participants will be closely following the financial results of ConocoPhillips in its upcoming release. The company plans to announce its earnings on October 31, 2024. On that day, ConocoPhillips is projected to report earnings of $1.85 per share, which would represent a year-over-year decline of 14.35%. Meanwhile, the latest consensus estimate predicts the revenue to be $14.81 billion, indicating a 0.36% decrease compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.95 per share and a revenue of $58.94 billion, signifying shifts of -9.35% and +0.62%, respectively, from the last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ConocoPhillips. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 2.27% lower. At present, ConocoPhillips boasts a Zacks Rank of #4 (Sell).

With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 13.35. This indicates a discount in contrast to its industry's Forward P/E of 17.76.

Meanwhile, COP's PEG ratio is currently 0.85. 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 2.94.

The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 190, positioning it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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