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BP (BP) Outpaces Stock Market Gains: What You Should Know
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BP (BP - Free Report) closed at $36.31 in the latest trading session, marking a +1.11% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the oil and gas company had gained 2.37% over the past month, outpacing the Oils-Energy sector's gain of 1% and lagging the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from BP as it approaches its next earnings release, which is expected to be August 1, 2023. In that report, analysts expect BP to post earnings of $1.33 per share. This would mark a year-over-year decline of 49.04%. Our most recent consensus estimate is calling for quarterly revenue of $62.89 billion, down 9.52% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $5.95 per share and revenue of $248.27 billion. These results would represent year-over-year changes of -31.92% and -0.25%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.73% 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 6.03. Its industry sports an average Forward P/E of 5.79, so we one might conclude that BP is trading at a premium comparatively.
It is also worth noting that BP currently has a PEG ratio of 0.93. 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. BP's industry 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 industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BP (BP) Outpaces Stock Market Gains: What You Should Know
BP (BP - Free Report) closed at $36.31 in the latest trading session, marking a +1.11% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the oil and gas company had gained 2.37% over the past month, outpacing the Oils-Energy sector's gain of 1% and lagging the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from BP as it approaches its next earnings release, which is expected to be August 1, 2023. In that report, analysts expect BP to post earnings of $1.33 per share. This would mark a year-over-year decline of 49.04%. Our most recent consensus estimate is calling for quarterly revenue of $62.89 billion, down 9.52% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $5.95 per share and revenue of $248.27 billion. These results would represent year-over-year changes of -31.92% and -0.25%, 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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 5.73% 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 6.03. Its industry sports an average Forward P/E of 5.79, so we one might conclude that BP is trading at a premium comparatively.
It is also worth noting that BP currently has a PEG ratio of 0.93. 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. BP's industry 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 industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.