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BP (BP) Increases Despite Market Slip: Here's What You Need to Know
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In the latest close session, BP (BP - Free Report) was up +1.21% at $42.67. This move outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.93%.
Coming into today, shares of the oil and gas company had gained 13.36% in the past month. In that same time, the Oils-Energy sector gained 7.86%, while the S&P 500 lost 2.25%.
Market participants will be closely following the financial results of BP in its upcoming release. The company's upcoming EPS is projected at $0.64, signifying a 20.75% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.23 billion, up 19.54% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.66 per share and revenue of $241.41 billion, indicating changes of -7.64% and +25.37%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for BP. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.31% increase. BP currently has a Zacks Rank of #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 15.86. This valuation marks a premium compared to its industry average Forward P/E of 12.02.
Also, we should mention that BP has a PEG ratio of 1.94. 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 1.09 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP (BP) Increases Despite Market Slip: Here's What You Need to Know
In the latest close session, BP (BP - Free Report) was up +1.21% at $42.67. This move outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.93%.
Coming into today, shares of the oil and gas company had gained 13.36% in the past month. In that same time, the Oils-Energy sector gained 7.86%, while the S&P 500 lost 2.25%.
Market participants will be closely following the financial results of BP in its upcoming release. The company's upcoming EPS is projected at $0.64, signifying a 20.75% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.23 billion, up 19.54% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.66 per share and revenue of $241.41 billion, indicating changes of -7.64% and +25.37%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for BP. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.31% increase. BP currently has a Zacks Rank of #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 15.86. This valuation marks a premium compared to its industry average Forward P/E of 12.02.
Also, we should mention that BP has a PEG ratio of 1.94. 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 1.09 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.