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

The most recent trading session ended with BP (BP) standing at $29.08, reflecting a +0.45% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.39% for the day. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 0.32%.

The oil and gas company's shares have seen a decrease of 1.6% over the last month, surpassing the Oils-Energy sector's loss of 5.09% and falling behind the S&P 500's gain of 3.6%.

Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.70, marking a 34.58% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $57.53 billion, indicating a 9.41% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $3.55 per share and revenue of $204.08 billion, which would represent changes of -25.73% and -4.2%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BP. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.94% lower. At present, BP boasts a Zacks Rank of #3 (Hold).

In the context of valuation, BP is at present trading with a Forward P/E ratio of 8.15. This signifies a premium in comparison to the average Forward P/E of 7.73 for its industry.

It is also worth noting that BP currently has a PEG ratio of 2.04. 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 2.04 at yesterday's closing price.