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

Zacks Equity Research
·3-min read

In the latest trading session, BP (BP) closed at $31.50, marking a +0.32% move from the previous day. This change outpaced the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.05%.

Coming into today, shares of the oil and gas company had gained 16% in the past month. In that same time, the Oils-Energy sector gained 10.7%, while the S&P 500 lost 7.66%.

Wall Street will be looking for positivity from BP as it approaches its next earnings report date. This is expected to be February 8, 2022. On that day, BP is projected to report earnings of $1.22 per share, which would represent year-over-year growth of 3966.67%. Meanwhile, our latest consensus estimate is calling for revenue of $42.11 billion, down 13.29% from the prior-year quarter.

Investors might also notice recent changes to analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 4.13% higher. BP is holding a Zacks Rank of #1 (Strong Buy) right now.

Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 6.92. This represents a premium compared to its industry's average Forward P/E of 6.04.

It is also worth noting that BP currently has a PEG ratio of 0.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.68 based on yesterday's closing prices.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 6, which puts it in the top 3% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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