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BP (BP) Stock Moves -0.22%: What You Should Know

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The most recent trading session ended with BP (BP - Free Report) standing at $40.72, reflecting a -0.22% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 1.34%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.62%.

Prior to today's trading, shares of the oil and gas company had gained 5.13% over the past month. This has outpaced the Oils-Energy sector's gain of 0.46% and the S&P 500's loss of 1.57% in that time.

The upcoming earnings release of BP will be of great interest to investors. The company's earnings report is expected on October 31, 2023. The company is predicted to post an EPS of $1.36, indicating a 47.49% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $66.16 billion, up 14.44% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $5.42 per share and revenue of $239.86 billion, which would represent changes of -37.99% and -3.63%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 0.18% upward. BP is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.53. Its industry sports an average Forward P/E of 7.19, so one might conclude that BP is trading at a premium comparatively.

Meanwhile, BP's PEG ratio is currently 1.16. 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. As the market closed yesterday, the Oil and Gas - Integrated - International industry was having an average PEG ratio of 0.87.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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