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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 $28.07, marking a -0.04% move from the previous day. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 3.16%.
Prior to today's trading, shares of the independent oil and gas company had gained 19.13% over the past month. This has outpaced the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from Par Petroleum as it approaches its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Par Petroleum to post earnings of $1.79 per share. This would mark year-over-year growth of 913.64%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 42.47% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Par Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 46.43% higher. Par Petroleum is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Par Petroleum currently has a Forward P/E ratio of 4.27. This valuation marks a discount compared to its industry's average Forward P/E of 7.79.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
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 $28.07, marking a -0.04% move from the previous day. This change lagged the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq added 3.16%.
Prior to today's trading, shares of the independent oil and gas company had gained 19.13% over the past month. This has outpaced the Oils-Energy sector's gain of 0.95% and the S&P 500's gain of 3.6% in that time.
Investors will be hoping for strength from Par Petroleum as it approaches its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Par Petroleum to post earnings of $1.79 per share. This would mark year-over-year growth of 913.64%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 42.47% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Par Petroleum. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 46.43% higher. Par Petroleum is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Par Petroleum currently has a Forward P/E ratio of 4.27. This valuation marks a discount compared to its industry's average Forward P/E of 7.79.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.