BP (BP) Gains As Market Dips: What You Should Know

In the latest trading session, BP (BP) closed at $32.27, marking a +0.97% move from the previous day. This move outpaced the S&P 500's daily loss of 0.95%. Elsewhere, the Dow saw a downswing of 0.99%, while the tech-heavy Nasdaq depreciated by 1.36%.The the stock of oil and gas company has risen by 2.7% in the past month, leading the Oils-Energy sector's gain of 0.41% and the S&P 500's gain of 1.86%.The investment community will be closely monitoring the performance of BP in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.56, marking a 47.66% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $57.71 billion, showing a 9.75% escalation compared to the year-ago quarter.It's also important for investors to be aware of any recent modifications to analyst estimates for BP. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 5.04% lower. As of now, BP holds a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that BP has a Forward P/E ratio of 9.05 right now. This represents a premium compared to its industry's average Forward P/E of 8.36.Meanwhile, BP's PEG ratio is currently 2.26. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.19 based on yesterday's closing prices.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 137, positioning it in the bottom 46% 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.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.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