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BP (BP) Outpaces Stock Market Gains: What You Should Know
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BP (BP - Free Report) closed the most recent trading day at $31.80, moving +1.4% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the oil and gas company had gained 11.68% over the past month, outpacing the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2022. The company is expected to report EPS of $1.94, up 95.96% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $57.46 billion, up 51.74% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $8.30 per share and revenue of $235.83 billion. These results would represent year-over-year changes of +117.28% and +43.63%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Within the past 30 days, our consensus EPS projection has moved 1.11% lower. BP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 3.78. Its industry sports an average Forward P/E of 4.01, so we one might conclude that BP is trading at a discount comparatively.
We can also see that BP currently has a PEG ratio of 0.6. 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 0.41 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 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $31.80, moving +1.4% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.19%. At the same time, the Dow added 1.34%, and the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the oil and gas company had gained 11.68% over the past month, outpacing the Oils-Energy sector's gain of 8.42% and the S&P 500's loss of 0.84% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be November 1, 2022. The company is expected to report EPS of $1.94, up 95.96% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $57.46 billion, up 51.74% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $8.30 per share and revenue of $235.83 billion. These results would represent year-over-year changes of +117.28% and +43.63%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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. Within the past 30 days, our consensus EPS projection has moved 1.11% lower. BP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 3.78. Its industry sports an average Forward P/E of 4.01, so we one might conclude that BP is trading at a discount comparatively.
We can also see that BP currently has a PEG ratio of 0.6. 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 0.41 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 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.