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BP (BP - Free Report) closed the latest trading day at $34.70, indicating a -0.54% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
The oil and gas company's shares have seen an increase of 0.37% over the last month, not keeping up with the Oils-Energy sector's gain of 1.25% and the S&P 500's gain of 3.4%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on February 6, 2024. In that report, analysts expect BP to post earnings of $1.18 per share. This would mark a year-over-year decline of 25.79%. In the meantime, our current consensus estimate forecasts the revenue to be $65.58 billion, indicating a 6.79% decline compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.73% decrease. At present, BP boasts a Zacks Rank of #4 (Sell).
Digging into valuation, BP currently has a Forward P/E ratio of 6.82. For comparison, its industry has an average Forward P/E of 6.82, which means BP is trading at no noticeable deviation to the group.
Investors should also note that BP has a PEG ratio of 1.05 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. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Sinks As Market Gains: Here's Why
BP (BP - Free Report) closed the latest trading day at $34.70, indicating a -0.54% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 0.75%.
The oil and gas company's shares have seen an increase of 0.37% over the last month, not keeping up with the Oils-Energy sector's gain of 1.25% and the S&P 500's gain of 3.4%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on February 6, 2024. In that report, analysts expect BP to post earnings of $1.18 per share. This would mark a year-over-year decline of 25.79%. In the meantime, our current consensus estimate forecasts the revenue to be $65.58 billion, indicating a 6.79% decline compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.73% decrease. At present, BP boasts a Zacks Rank of #4 (Sell).
Digging into valuation, BP currently has a Forward P/E ratio of 6.82. For comparison, its industry has an average Forward P/E of 6.82, which means BP is trading at no noticeable deviation to the group.
Investors should also note that BP has a PEG ratio of 1.05 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. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.