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Par Petroleum (PARR) Gains As Market Dips: What You Should Know
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In the latest trading session, Par Petroleum (PARR - Free Report) closed at $23.62, marking a +0.21% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the independent oil and gas company had gained 13.92% over the past month. This has outpaced the Oils-Energy sector's gain of 6.66% and the S&P 500's gain of 4.01% in that time.
Par Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Par Petroleum to post earnings of $1.46 per share. This would mark year-over-year growth of 763.64%. Meanwhile, our latest consensus estimate is calling for revenue of $1.9 billion, up 46.74% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Par Petroleum. 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. 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. The Zacks Consensus EPS estimate has moved 5.61% higher within the past month. Par Petroleum currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Par Petroleum currently has a Forward P/E ratio of 5.07. This represents a discount compared to its industry's average Forward P/E of 8.32.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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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Par Petroleum (PARR) Gains As Market Dips: What You Should Know
In the latest trading session, Par Petroleum (PARR - Free Report) closed at $23.62, marking a +0.21% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq added 1.39%.
Prior to today's trading, shares of the independent oil and gas company had gained 13.92% over the past month. This has outpaced the Oils-Energy sector's gain of 6.66% and the S&P 500's gain of 4.01% in that time.
Par Petroleum will be looking to display strength as it nears its next earnings release. In that report, analysts expect Par Petroleum to post earnings of $1.46 per share. This would mark year-over-year growth of 763.64%. Meanwhile, our latest consensus estimate is calling for revenue of $1.9 billion, up 46.74% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Par Petroleum. 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. 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. The Zacks Consensus EPS estimate has moved 5.61% higher within the past month. Par Petroleum currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Par Petroleum currently has a Forward P/E ratio of 5.07. This represents a discount compared to its industry's average Forward P/E of 8.32.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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.