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BP (BP) Gains As Market Dips: What You Should Know
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BP (BP - Free Report) closed the most recent trading day at $40.58, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the oil and gas company had gained 13.59% over the past month. This has outpaced the Oils-Energy sector's gain of 6.61% and the S&P 500's gain of 7.71% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $1.45, down 24.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $57.58 billion, up 12.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.40 per share and revenue of $237.12 billion, which would represent changes of -26.77% and -4.73%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.69% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BP is holding a Forward P/E ratio of 6.33. For comparison, its industry has an average Forward P/E of 5.9, which means BP is trading at a premium to the group.
Investors should also note that BP has a PEG ratio of 0.93 right now. 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 - International was holding an average PEG ratio of 0.77 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BP (BP) Gains As Market Dips: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $40.58, moving +0.3% from the previous trading session. This change outpaced the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Prior to today's trading, shares of the oil and gas company had gained 13.59% over the past month. This has outpaced the Oils-Energy sector's gain of 6.61% and the S&P 500's gain of 7.71% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be May 2, 2023. The company is expected to report EPS of $1.45, down 24.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $57.58 billion, up 12.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.40 per share and revenue of $237.12 billion, which would represent changes of -26.77% and -4.73%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.69% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BP is holding a Forward P/E ratio of 6.33. For comparison, its industry has an average Forward P/E of 5.9, which means BP is trading at a premium to the group.
Investors should also note that BP has a PEG ratio of 0.93 right now. 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 - International was holding an average PEG ratio of 0.77 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.