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BP (BP) Gains But Lags Market: What You Should Know
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BP (BP - Free Report) closed at $35.04 in the latest trading session, marking a +0.55% move from the prior day. The stock lagged the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Prior to today's trading, shares of the oil and gas company had lost 0.46% over the past month. This has lagged the Oils-Energy sector's gain of 4.41% and the S&P 500's loss of 0.23% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be February 7, 2023. In that report, analysts expect BP to post earnings of $1.77 per share. This would mark year-over-year growth of 43.9%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.51 billion, up 15.83% from the year-ago period.
Investors might also notice recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.27% lower within the past month. BP currently has a Zacks Rank of #3 (Hold).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 5.31. Its industry sports an average Forward P/E of 5.31, so we one might conclude that BP is trading at a no noticeable deviation comparatively.
Meanwhile, BP's PEG ratio is currently 0.89. 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 - International stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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 BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP (BP) Gains But Lags Market: What You Should Know
BP (BP - Free Report) closed at $35.04 in the latest trading session, marking a +0.55% move from the prior day. The stock lagged the S&P 500's daily gain of 1.29%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 10.96%.
Prior to today's trading, shares of the oil and gas company had lost 0.46% over the past month. This has lagged the Oils-Energy sector's gain of 4.41% and the S&P 500's loss of 0.23% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be February 7, 2023. In that report, analysts expect BP to post earnings of $1.77 per share. This would mark year-over-year growth of 43.9%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.51 billion, up 15.83% from the year-ago period.
Investors might also notice recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.27% lower within the past month. BP currently has a Zacks Rank of #3 (Hold).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 5.31. Its industry sports an average Forward P/E of 5.31, so we one might conclude that BP is trading at a no noticeable deviation comparatively.
Meanwhile, BP's PEG ratio is currently 0.89. 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 - International stocks are, on average, holding a PEG ratio of 0.67 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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 BP in the coming trading sessions, be sure to utilize Zacks.com.