BP (BP) closed the most recent trading day at $44.22, moving +2.08% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.66% for the day. Meanwhile, the Dow gained 1.19%, and the Nasdaq, a tech-heavy index, added 2.78%.

Heading into today, shares of the oil and gas company had gained 19.83% over the past month, outpacing the Oils-Energy sector's gain of 5.33% and the S&P 500's loss of 1.49%.

Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to go public on August 4, 2026. The company's upcoming EPS is projected at $1.98, signifying a 120.00% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $67.71 billion, up 42.01% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.76 per share and revenue of $225.27 billion, indicating changes of +100% and +16.99%, respectively, compared to the previous year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.77% upward. BP currently has a Zacks Rank of #3 (Hold).

From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 7.53. This expresses a discount compared to the average Forward P/E of 8.72 of its industry.

Also, we should mention that BP has a PEG ratio of 0.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 0.62.

The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 5% 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.

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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This article originally published on Zacks Investment Research (zacks.com).

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