BP (BP) Stock Sinks As Market Gains: Here's Why

Company Performance - BP closed at $34.11, reflecting a -1.27% change from the previous day, underperforming the S&P 500's gain of 1.77% [1] - Over the past month, BP shares increased by 1.95%, while the Oils-Energy sector gained 0.43% and the S&P 500 decreased by 5.73% [1] Earnings Projections - The upcoming EPS for BP is projected at$ 0.64, indicating a 34.02% decline compared to the same quarter last year [2] - Revenue is expected to reach $57.08 billion, representing a 14.25% increase from the year-ago quarter [2] - For the full year, earnings are projected at$ 3.21 per share and revenue at $241.39 billion, reflecting changes of -1.53% and +24.02% respectively from the prior year [3] Analyst Estimates and Valuation - Recent adjustments to analyst estimates for BP are crucial as they reflect short-term business trends, with positive revisions indicating a favorable outlook on the company's health and profitability [4] - The Zacks Rank system, which incorporates estimate changes, currently ranks BP at 3 (Hold), with a recent EPS estimate decrease of 9.11% [6] - BP's Forward P/E ratio stands at 10.78, which is a premium compared to the industry average of 7.99 [6] - The PEG ratio for BP is 1.22, slightly above the industry average of 1.19 [7] Industry Context - The Oil and Gas - Integrated - International industry, to which BP belongs, ranks in the bottom 39% of all industries according to the Zacks Industry Rank [8]