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BP (BP) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, BP (BP - Free Report) closed at $39.64, marking a -0.55% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Prior to today's trading, shares of the oil and gas company had gained 9.27% over the past month. This has outpaced the Oils-Energy sector's gain of 8.83% and the S&P 500's gain of 4.59% 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 $1.33, down 30.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $57.48 billion, up 12.21% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.25 per share and revenue of $237.51 billion, which would represent changes of -28.49% and -4.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.99% lower. BP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 6.38. This valuation marks a premium compared to its industry's average Forward P/E of 5.78.
It is also worth noting that BP currently has a PEG ratio of 0.94. 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 industry currently had an average PEG ratio of 0.76 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP (BP) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, BP (BP - Free Report) closed at $39.64, marking a -0.55% move from the previous day. This move lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Prior to today's trading, shares of the oil and gas company had gained 9.27% over the past month. This has outpaced the Oils-Energy sector's gain of 8.83% and the S&P 500's gain of 4.59% 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 $1.33, down 30.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $57.48 billion, up 12.21% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.25 per share and revenue of $237.51 billion, which would represent changes of -28.49% and -4.57%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.99% lower. BP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 6.38. This valuation marks a premium compared to its industry's average Forward P/E of 5.78.
It is also worth noting that BP currently has a PEG ratio of 0.94. 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 industry currently had an average PEG ratio of 0.76 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.