BP (BP) Advances But Underperforms Market: Key Facts

BP (BP) ended the recent trading session at $30.33, demonstrating a +0.76% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.82%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 1.77%.Heading into today, shares of the oil and gas company had gained 6.89% over the past month, outpacing the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8% in that time.Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.70, signifying a 34.58% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $57.54 billion, reflecting a 9.43% rise from the equivalent quarter last year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.55 per share and a revenue of $204.08 billion, signifying shifts of -25.73% and -4.2%, 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.94% lower within the past month. BP presently features a Zacks Rank of #3 (Hold).In terms of valuation, BP is currently trading at a Forward P/E ratio of 8.47. This expresses a premium compared to the average Forward P/E of 8.02 of its industry.Meanwhile, BP's PEG ratio is currently 2.12. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 2.12.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks