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BP (BP) Stock Sinks As Market Gains: What You Should Know
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BP (BP - Free Report) closed at $35.33 in the latest trading session, marking a -0.14% move from the prior day. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Shares of the oil and gas company witnessed a loss of 0.37% over the previous month, beating the performance of the Oils-Energy sector with its loss of 9.19% and underperforming the S&P 500's gain of 0.43%.
The investment community will be paying close attention to the earnings performance of BP in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 10.11% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $62.44 billion, up 26.21% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.35 per share and revenue of $239.78 billion, which would represent changes of -9% and +12.56%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 last 30 days, the Zacks Consensus EPS estimate has moved 8.64% lower. As of now, BP holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 8.13 right now. Its industry sports an average Forward P/E of 7.89, so one might conclude that BP is trading at a premium comparatively.
We can additionally observe that BP currently boasts a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.65 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 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.
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) Stock Sinks As Market Gains: What You Should Know
BP (BP - Free Report) closed at $35.33 in the latest trading session, marking a -0.14% move from the prior day. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Shares of the oil and gas company witnessed a loss of 0.37% over the previous month, beating the performance of the Oils-Energy sector with its loss of 9.19% and underperforming the S&P 500's gain of 0.43%.
The investment community will be paying close attention to the earnings performance of BP in its upcoming release. The company is slated to reveal its earnings on July 30, 2024. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 10.11% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $62.44 billion, up 26.21% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.35 per share and revenue of $239.78 billion, which would represent changes of -9% and +12.56%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 last 30 days, the Zacks Consensus EPS estimate has moved 8.64% lower. As of now, BP holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 8.13 right now. Its industry sports an average Forward P/E of 7.89, so one might conclude that BP is trading at a premium comparatively.
We can additionally observe that BP currently boasts a PEG ratio of 2.03. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.65 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.