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BP (BP) Ascends But Remains Behind Market: Some Facts to Note
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The most recent trading session ended with BP (BP - Free Report) standing at $40.22, reflecting a +0.52% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.06% gain on the day. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 1.2%.
The oil and gas company's stock has climbed by 3.25% in the past month, exceeding the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on October 31, 2023. In that report, analysts expect BP to post earnings of $1.35 per share. This would mark a year-over-year decline of 47.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.16 billion, up 14.44% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.42 per share and a revenue of $239.86 billion, signifying shifts of -37.99% and -3.63%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. As of now, BP holds a Zacks Rank of #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 7.38. Its industry sports an average Forward P/E of 6.96, so one might conclude that BP is trading at a premium comparatively.
It is also worth noting that BP currently has a PEG ratio of 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 149, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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BP (BP) Ascends But Remains Behind Market: Some Facts to Note
The most recent trading session ended with BP (BP - Free Report) standing at $40.22, reflecting a +0.52% shift from the previouse trading day's closing. This change lagged the S&P 500's 1.06% gain on the day. On the other hand, the Dow registered a gain of 0.93%, and the technology-centric Nasdaq increased by 1.2%.
The oil and gas company's stock has climbed by 3.25% in the past month, exceeding the Oils-Energy sector's loss of 0.77% and the S&P 500's loss of 3%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on October 31, 2023. In that report, analysts expect BP to post earnings of $1.35 per share. This would mark a year-over-year decline of 47.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $66.16 billion, up 14.44% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.42 per share and a revenue of $239.86 billion, signifying shifts of -37.99% and -3.63%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.15% upward. As of now, BP holds a Zacks Rank of #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 7.38. Its industry sports an average Forward P/E of 6.96, so one might conclude that BP is trading at a premium comparatively.
It is also worth noting that BP currently has a PEG ratio of 1.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 149, placing it within the bottom 41% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.