ConocoPhillips (COP) Sees a More Significant Dip Than Broader Market: Some Facts to Know

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.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 148, placing it within the bottom 42% of over 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.To follow COP in the coming trading sessions, be sure to utilize Zacks.com.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks