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ConocoPhillips (COP) closed at $72.28 in the latest trading session, marking a -0.88% move from the prior day. This change lagged the S&P 500’s daily loss of 0.3%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq added 0.33%.
Coming into today, shares of the energy company had gained 5.38% in the past month. In that same time, the Oils-Energy sector gained 1.34%, while the S&P 500 gained 3.11%.
ConocoPhillips will be looking to display strength as it nears its next earnings release, which is expected to be February 3, 2022. In that report, analysts expect ConocoPhillips to post earnings of $2.19 per share. This would mark year-over-year growth of 1252.63%. Meanwhile, our latest consensus estimate is calling for revenue of $14.28 billion, up 136.07% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.92 per share and revenue of $45.88 billion, which would represent changes of +710.31% and +138.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates 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 company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).
In terms of valuation, ConocoPhillips is currently trading at a Forward P/E ratio of 12.31. This valuation marks a discount compared to its industry’s average Forward P/E of 13.77.
Investors should also note that COP has a PEG ratio of 0.82 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. Oil and Gas – Integrated – United States stocks are, on average, holding a PEG ratio of 0.82 based on yesterday’s closing prices.
The Oil and Gas – Integrated – United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 218, which puts it in the bottom 15% 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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