We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP (BP) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
BP (BP - Free Report) closed the most recent trading day at $35.79, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Coming into today, shares of the oil and gas company had lost 0.08% in the past month. In that same time, the Oils-Energy sector lost 0.2%, while the S&P 500 gained 2.65%.
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 $1.26 per share. This would mark a year-over-year decline of 51.72%. Our most recent consensus estimate is calling for quarterly revenue of $62.24 billion, down 10.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.87 per share and revenue of $246.87 billion. These totals would mark changes of -32.84% and -0.81%, respectively, from last year.
Investors might also notice 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2.91% lower. BP is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 6.01. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 6.01.
We can also see that BP currently has a PEG ratio of 0.92. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.75 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 220, which puts it in the bottom 13% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
BP (BP) Outpaces Stock Market Gains: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $35.79, moving +1.33% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Coming into today, shares of the oil and gas company had lost 0.08% in the past month. In that same time, the Oils-Energy sector lost 0.2%, while the S&P 500 gained 2.65%.
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 $1.26 per share. This would mark a year-over-year decline of 51.72%. Our most recent consensus estimate is calling for quarterly revenue of $62.24 billion, down 10.45% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.87 per share and revenue of $246.87 billion. These totals would mark changes of -32.84% and -0.81%, respectively, from last year.
Investors might also notice 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 2.91% lower. BP is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 6.01. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 6.01.
We can also see that BP currently has a PEG ratio of 0.92. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.75 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 220, which puts it in the bottom 13% 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.