ConocoPhillips (COP) Surpasses Market Returns: Some Facts Worth Knowing

The latest trading session saw ConocoPhillips (COP) ending at $102.55, denoting a +0.35% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 0.46%.Shares of the energy company witnessed a gain of 3.41% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.79% and the S&P 500's loss of 3.59%.The upcoming earnings release of ConocoPhillips will be of great interest to investors. It is anticipated that the company will report an EPS of $2.04, marking a 0.49% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $16.34 billion, up 12.89% from the year-ago period.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.12 per share and a revenue of $64.6 billion, indicating changes of +4.24% and +13.43%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ConocoPhillips. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 0.47% lower within the past month. ConocoPhillips currently has a Zacks Rank of #3 (Hold).Digging into valuation, ConocoPhillips currently has a Forward P/E ratio of 12.58. This signifies a discount in comparison to the average Forward P/E of 15.37 for its industry.One should further note that COP currently holds a PEG ratio of 0.8. 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. As of the close of trade yesterday, the Oil and Gas - Integrated - United States industry held an average PEG ratio of 1.49.The Oil and Gas - Integrated - United States industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 140, finds itself in the bottom 45% echelons of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks