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Par Petroleum (PARR) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Par Petroleum (PARR - Free Report) closed at $27.38, marking a -0.47% move from the previous day. This move lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Prior to today's trading, shares of the independent oil and gas company had gained 21.56% over the past month. This has outpaced the Oils-Energy sector's gain of 2.6% and the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Par Petroleum as it approaches its next earnings release. In that report, analysts expect Par Petroleum to post earnings of $1.73 per share. This would mark year-over-year growth of 886.36%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 42.47% from the prior-year quarter.
Any recent changes to analyst estimates for Par Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 66.22% higher. Par Petroleum is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Par Petroleum is holding a Forward P/E ratio of 4.17. For comparison, its industry has an average Forward P/E of 8.45, which means Par Petroleum is trading at a discount to the group.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
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Par Petroleum (PARR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Par Petroleum (PARR - Free Report) closed at $27.38, marking a -0.47% move from the previous day. This move lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Prior to today's trading, shares of the independent oil and gas company had gained 21.56% over the past month. This has outpaced the Oils-Energy sector's gain of 2.6% and the S&P 500's gain of 4.57% in that time.
Investors will be hoping for strength from Par Petroleum as it approaches its next earnings release. In that report, analysts expect Par Petroleum to post earnings of $1.73 per share. This would mark year-over-year growth of 886.36%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 42.47% from the prior-year quarter.
Any recent changes to analyst estimates for Par Petroleum should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 66.22% higher. Par Petroleum is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Par Petroleum is holding a Forward P/E ratio of 4.17. For comparison, its industry has an average Forward P/E of 8.45, which means Par Petroleum is trading at a discount to the group.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.