ConocoPhillips (COP) Stock Sinks As Market Gains: What You Should Know

In the latest market close, ConocoPhillips (COP) reached $95.12, with a -0.06% movement compared to the previous day. This change lagged the S&P 500's 1.09% gain on the day. On the other hand, the Dow registered a gain of 1.18%, and the technology-centric Nasdaq increased by 1.03%.The energy company's stock has dropped by 14.94% in the past month, falling short of the Oils-Energy sector's loss of 9.46% and the S&P 500's loss of 0.71%.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%. Simultaneously, our latest consensus estimate expects the revenue to be $14.64 billion, showing a 4.36% drop compared to the year-ago quarter.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.79 per share and revenue of $56.86 billion. These totals would mark changes of -11.17% and -2.93%, respectively, from last year.Investors should also take note of any recent adjustments to analyst estimates for ConocoPhillips. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.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. The Zacks Consensus EPS estimate has moved 0.09% lower within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).With respect to valuation, ConocoPhillips is currently being traded at a Forward P/E ratio of 12.22. This represents a discount compared to its industry's average Forward P/E of 16.08.We can also see that COP currently has a PEG ratio of 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - United States industry had an average PEG ratio of 2.69 as trading concluded yesterday.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 182, positioning it in the bottom 28% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>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