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BP (BP - Free Report) closed the latest trading day at $35.40, indicating a +0.2% change from the previous session's end. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Prior to today's trading, shares of the oil and gas company had lost 2.65% over the past month. This has lagged the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 5.24% in that time.
Market participants will be closely following the financial results of BP in its upcoming release. The company is expected to report EPS of $1.27, down 20.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $65.59 billion, down 6.77% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5 per share and a revenue of $220.2 billion, signifying shifts of -42.79% and -11.53%, respectively, from the last year.
It is also important to note the 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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 2.37% lower. As of now, BP holds a Zacks Rank of #3 (Hold).
In the context of valuation, BP is at present trading with a Forward P/E ratio of 7.06. This represents a premium compared to its industry's average Forward P/E of 6.42.
Also, we should mention that BP has a PEG ratio of 1.08. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 63, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why the Market Dipped But BP (BP) Gained Today
BP (BP - Free Report) closed the latest trading day at $35.40, indicating a +0.2% change from the previous session's end. This change outpaced the S&P 500's 0.28% loss on the day. Meanwhile, the Dow experienced a drop of 0.06%, and the technology-dominated Nasdaq saw a decrease of 0.56%.
Prior to today's trading, shares of the oil and gas company had lost 2.65% over the past month. This has lagged the Oils-Energy sector's gain of 0.78% and the S&P 500's gain of 5.24% in that time.
Market participants will be closely following the financial results of BP in its upcoming release. The company is expected to report EPS of $1.27, down 20.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $65.59 billion, down 6.77% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5 per share and a revenue of $220.2 billion, signifying shifts of -42.79% and -11.53%, respectively, from the last year.
It is also important to note the 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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 2.37% lower. As of now, BP holds a Zacks Rank of #3 (Hold).
In the context of valuation, BP is at present trading with a Forward P/E ratio of 7.06. This represents a premium compared to its industry's average Forward P/E of 6.42.
Also, we should mention that BP has a PEG ratio of 1.08. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 63, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.