BP (BP) closed at $24.25 in the latest trading session, marking a -0.33% move from the prior day. This change was narrower than the S&P 500's 0.47% loss on the day.Coming into today, shares of the oil and gas company had lost 8.05% in the past month. In that same time, the Oils-Energy sector lost 8.12%, while the S&P 500 gained 3.38%.BP will be looking to display strength as it nears its next earnings release, which is expected to be August 3, 2021. On that day, BP is projected to report earnings of $0.61 per share, which would represent year-over-year growth of 130.81%. Our most recent consensus estimate is calling for quarterly revenue of $34.54 billion, up 10.75% from the year-ago period.BP's full-year Zacks Consensus Estimates are calling for earnings of $2.92 per share and revenue of $147.06 billion. These results would represent year-over-year changes of +272.78% and -19.86%, respectively.Any recent changes to analyst estimates for BP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.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 15.19% higher. BP is currently sporting a Zacks Rank of #3 (Hold).Digging into valuation, BP currently has a Forward P/E ratio of 8.33. Its industry sports an average Forward P/E of 7.08, so we one might conclude that BP is trading at a premium comparatively.Investors should also note that BP has a PEG ratio of 0.52 right now. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.54 at yesterday's closing price.The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual 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. +1,500% Growth: One of 2021’s Most Exciting Investment Opportunities In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second. Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report 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 Report To read this article on Zacks.com click here. Zacks Investment Research