BP (BP - Free Report) closed at $38.83 in the latest trading session, marking a +1.81% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.81%, while the tech-heavy Nasdaq lost 0.79%.
Prior to today's trading, shares of the oil and gas company had gained 4.07% over the past month. This has lagged the Oils-Energy sector's gain of 8.14% and the S&P 500's gain of 4.77% in that time.
Investors will be hoping for strength from BP as it approaches its next earnings release. In that report, analysts expect BP to post earnings of $0.66 per share. This would mark a year-over-year decline of 36.54%. Our most recent consensus estimate is calling for quarterly revenue of $76.29 billion, down 0.77% from the year-ago period.
Investors should also note any recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.36% higher. BP currently has a Zacks Rank of #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 12.52. For comparison, its industry has an average Forward P/E of 14.28, which means BP is trading at a discount to the group.
Meanwhile, BP's PEG ratio is currently 1.32. 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 2.03 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 191, which puts it in the bottom 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.