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BP (BP) Dips More Than Broader Markets: What You Should Know
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BP (BP - Free Report) closed at $37.10 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the oil and gas company had gained 6.83% over the past month. This has lagged the Oils-Energy sector's gain of 8.02% and outpaced the S&P 500's gain of 5.14% in that time.
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 $1.17 per share. This would mark a year-over-year decline of 55.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 $5.77 per share and revenue of $246.87 billion. These totals would mark changes of -33.98% and -0.81%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.63% lower within the past month. BP is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 6.45. This valuation marks a premium compared to its industry's average Forward P/E of 6.27.
It is also worth noting that BP currently has a PEG ratio of 0.99. 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 0.83 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Dips More Than Broader Markets: What You Should Know
BP (BP - Free Report) closed at $37.10 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's daily loss of 0.02%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the oil and gas company had gained 6.83% over the past month. This has lagged the Oils-Energy sector's gain of 8.02% and outpaced the S&P 500's gain of 5.14% in that time.
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 $1.17 per share. This would mark a year-over-year decline of 55.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 $5.77 per share and revenue of $246.87 billion. These totals would mark changes of -33.98% and -0.81%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 4.63% lower within the past month. BP is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 6.45. This valuation marks a premium compared to its industry's average Forward P/E of 6.27.
It is also worth noting that BP currently has a PEG ratio of 0.99. 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 0.83 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.