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BP (BP) Gains As Market Dips: What You Should Know
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BP (BP - Free Report) closed the most recent trading day at $27.55, moving +1.06% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the oil and gas company had lost 16.05% over the past month. This has lagged the Oils-Energy sector's loss of 15.96% and the S&P 500's loss of 9.7% in that time.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $2.14 per share. This would mark year-over-year growth of 116.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $59.46 billion, up 57.01% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $8.48 per share and revenue of $240.78 billion. These results would represent year-over-year changes of +121.99% and +46.64%, respectively.
Any recent changes to analyst estimates for BP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.68% higher. BP is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 3.21. Its industry sports an average Forward P/E of 3.67, so we one might conclude that BP is trading at a discount comparatively.
It is also worth noting that BP currently has a PEG ratio of 0.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.33 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.
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BP (BP) Gains As Market Dips: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $27.55, moving +1.06% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.43%, while the tech-heavy Nasdaq added 0.01%.
Prior to today's trading, shares of the oil and gas company had lost 16.05% over the past month. This has lagged the Oils-Energy sector's loss of 15.96% and the S&P 500's loss of 9.7% in that time.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $2.14 per share. This would mark year-over-year growth of 116.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $59.46 billion, up 57.01% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $8.48 per share and revenue of $240.78 billion. These results would represent year-over-year changes of +121.99% and +46.64%, respectively.
Any recent changes to analyst estimates for BP should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 2.68% higher. BP is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 3.21. Its industry sports an average Forward P/E of 3.67, so we one might conclude that BP is trading at a discount comparatively.
It is also worth noting that BP currently has a PEG ratio of 0.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.33 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% 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.