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Par Petroleum (PARR) Stock Moves -0.76%: What You Should Know
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Par Petroleum (PARR - Free Report) closed the most recent trading day at $27.40, moving -0.76% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the independent oil and gas company had gained 23.42% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's gain of 7% in that time.
Par Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2023. On that day, Par Petroleum is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 913.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.84 billion, up 42.47% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Par Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 46.43% higher. Par Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Par Petroleum is holding a Forward P/E ratio of 4.2. This represents a discount compared to its industry's average Forward P/E of 7.75.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% 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) Stock Moves -0.76%: What You Should Know
Par Petroleum (PARR - Free Report) closed the most recent trading day at $27.40, moving -0.76% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.11%. At the same time, the Dow lost 0.61%, and the tech-heavy Nasdaq lost 2.13%.
Prior to today's trading, shares of the independent oil and gas company had gained 23.42% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's gain of 7% in that time.
Par Petroleum will be looking to display strength as it nears its next earnings release, which is expected to be February 22, 2023. On that day, Par Petroleum is projected to report earnings of $1.79 per share, which would represent year-over-year growth of 913.64%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.84 billion, up 42.47% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Par Petroleum. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 46.43% higher. Par Petroleum is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Par Petroleum is holding a Forward P/E ratio of 4.2. This represents a discount compared to its industry's average Forward P/E of 7.75.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% 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.