BP (BP) Outperforms Broader Market: What You Need to Know

BP (BP) closed the most recent trading day at $34.76, moving +1.97% from the previous trading session. This change outpaced the S&P 500's 0.3% gain on the day. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.03%. Prior to today's trading, shares of the oil and gas company had gained 0.06% lagged the Oils-Energy sector's gain of 1.33% and the S&P 500's gain of 2.09%.Market participants will be closely following the financial results of BP in its upcoming release. The company is expected to report EPS of $0.74, down 10.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $63.3 billion, up 30.97% from the year-ago period. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.64 per share and a revenue of $221.48 billion, representing changes of -19.02% and +13.79%, respectively, from the prior year. It's also important for investors to be aware of any recent modifications to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, there's been a 0.59% rise in the Zacks Consensus EPS estimate. BP is currently sporting a Zacks Rank of #3 (Hold). In the context of valuation, BP is at present trading with a Forward P/E ratio of 12.92. This valuation marks a premium compared to its industry average Forward P/E of 10.52. Meanwhile, BP's PEG ratio is currently 1.79. 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. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.83. The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 39% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks