Par Petroleum (PARR) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Par Petroleum (PARR) closed at $26.19, marking a +0.96% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Heading into today, shares of the independent oil and gas company had gained 21.67% over the past month, outpacing the Oils-Energy sector's gain of 2.62% and the S&P 500's gain of 4.25% in that time.
Par Petroleum will be looking to display strength as it nears its next earnings release. On that day, Par Petroleum is projected to report earnings of $1.08 per share, which would represent a year-over-year decline of 67.37%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.45 billion, down 31.35% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.75 per share and revenue of $6.99 billion, which would represent changes of -40.1% and -4.54%, respectively, from the prior year.
Any recent changes to analyst estimates for Par Petroleum should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. Par Petroleum is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Par Petroleum is holding a Forward P/E ratio of 5.46. This valuation marks a discount compared to its industry's average Forward P/E of 6.48.
The Oil and Gas - Refining and Marketing industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Pacific Holdings, Inc. (PARR) : Free Stock Analysis Report
