Par Petroleum (PARR) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Par Petroleum (PARR) closed at $24.45, marking a -1.37% move from the previous day. This change lagged the S&P 500's 0.77% loss on the day. Elsewhere, the Dow lost 0.65%, while the tech-heavy Nasdaq lost 2.23%.
Coming into today, shares of the independent oil and gas company had gained 17.93% in the past month. In that same time, the Oils-Energy sector gained 0.78%, while the S&P 500 gained 4.66%.
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 $0.97 per share. This would mark a year-over-year decline of 70.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.45 billion, down 31.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.68 per share and revenue of $6.99 billion. These totals would mark changes of -40.98% and -4.54%, respectively, from last year.
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. 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.
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 1.26% lower. Par Petroleum is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Par Petroleum is currently trading at a Forward P/E ratio of 5.29. This represents a discount compared to its industry's average Forward P/E of 6.42.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
To follow PARR in the coming trading sessions, be sure to utilize Zacks.com.
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Par Pacific Holdings, Inc. (PARR) : Free Stock Analysis Report
