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BP (BP) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, BP (BP) closed at $23.14, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 1.67%.

Heading into today, shares of the oil and gas company had lost 2.43% over the past month, lagging the Oils-Energy sector's gain of 3.13% and the S&P 500's gain of 5.51% in that time.

Wall Street will be looking for positivity from BP as it approaches its next earnings report date. This is expected to be August 4, 2020. The company is expected to report EPS of -$0.99, down 219.28% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $42.23 billion, down 42.74% from the year-ago period.

BP's full-year Zacks Consensus Estimates are calling for earnings of -$0.57 per share and revenue of $198.39 billion. These results would represent year-over-year changes of -119.32% and -29.8%, respectively.

Investors should also note any recent changes to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 380.28% lower. BP currently has a Zacks Rank of #3 (Hold).

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 47, putting it in the top 19% 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.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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