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BP (BP) Gains As Market Dips: What You Should Know
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BP (BP - Free Report) closed at $27.01 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the oil and gas company had lost 12.9% over the past month, outpacing the Oils-Energy sector's loss of 18.41% and lagging the S&P 500's loss of 1.89% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2022. On that day, BP is projected to report earnings of $2 per share, which would represent year-over-year growth of 140.96%. Our most recent consensus estimate is calling for quarterly revenue of $50.5 billion, up 34.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.48 per share and revenue of $210.35 billion, which would represent changes of +95.81% and +28.11%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.68% higher. BP is currently a Zacks Rank #1 (Strong Buy).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 3.59. This valuation marks a discount compared to its industry's average Forward P/E of 4.11.
We can also see that BP currently has a PEG ratio of 0.7. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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BP (BP) Gains As Market Dips: What You Should Know
BP (BP - Free Report) closed at $27.01 in the latest trading session, marking a +0.48% move from the prior day. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the oil and gas company had lost 12.9% over the past month, outpacing the Oils-Energy sector's loss of 18.41% and lagging the S&P 500's loss of 1.89% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2022. On that day, BP is projected to report earnings of $2 per share, which would represent year-over-year growth of 140.96%. Our most recent consensus estimate is calling for quarterly revenue of $50.5 billion, up 34.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.48 per share and revenue of $210.35 billion, which would represent changes of +95.81% and +28.11%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 10.68% higher. BP is currently a Zacks Rank #1 (Strong Buy).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 3.59. This valuation marks a discount compared to its industry's average Forward P/E of 4.11.
We can also see that BP currently has a PEG ratio of 0.7. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.41 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.