BP (BP) Ascends While Market Falls: Some Facts to Note

BP (BP) closed the latest trading day at $29.56, indicating a +1.62% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.43%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq decreased by 0.9%.Shares of the oil and gas company witnessed a gain of 0.34% over the previous month, beating the performance of the Oils-Energy sector with its loss of 8.37% and the S&P 500's loss of 1.98%.The upcoming earnings release of BP will be of great interest to investors. It is anticipated that the company will report an EPS of $0.65, marking a 39.25% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.53 billion, up 9.4% from the year-ago period.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.51 per share and revenue of $204.07 billion. These totals would mark changes of -26.57% and -4.21%, respectively, from last year.Investors should also note any recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate has moved 1.44% lower within the past month. BP is currently a Zacks Rank #4 (Sell).Looking at valuation, BP is presently trading at a Forward P/E ratio of 8.28. For comparison, its industry has an average Forward P/E of 7.78, which means BP is trading at a premium to the group.We can also see that BP currently has a PEG ratio of 2.07. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 2.07.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 152, placing it within the bottom 40% of over 250 industries.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.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.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