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BP (BP - Free Report) closed the most recent trading day at $37.60, moving -0.58% from the previous trading session. This change was narrower than the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the oil and gas company had lost 0.81% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.79% and the S&P 500's loss of 4.93% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2023. In that report, analysts expect BP to post earnings of $1.34 per share. This would mark a year-over-year decline of 48.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $65.58 billion, up 13.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.41 per share and revenue of $239.84 billion, which would represent changes of -38.1% and -3.64%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% lower. BP currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 6.99 right now. This valuation marks a premium compared to its industry's average Forward P/E of 6.89.
We can also see that BP currently has a PEG ratio of 1.07. 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. BP's industry 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 industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP (BP) Stock Moves -0.58%: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $37.60, moving -0.58% from the previous trading session. This change was narrower than the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the oil and gas company had lost 0.81% over the past month. This has was narrower than the Oils-Energy sector's loss of 1.79% and the S&P 500's loss of 4.93% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be October 31, 2023. In that report, analysts expect BP to post earnings of $1.34 per share. This would mark a year-over-year decline of 48.26%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $65.58 billion, up 13.45% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.41 per share and revenue of $239.84 billion, which would represent changes of -38.1% and -3.64%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.59% lower. BP currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 6.99 right now. This valuation marks a premium compared to its industry's average Forward P/E of 6.89.
We can also see that BP currently has a PEG ratio of 1.07. 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. BP's industry 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 industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.