We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Par Petroleum (PARR) Moves 6.8% Higher: Will This Strength Last?
Read MoreHide Full Article
Par Petroleum (PARR - Free Report) shares ended the last trading session 6.8% higher at $13.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2% loss over the past four weeks.
Par Petroleum's stock price increase is mainly because the company is well-positioned to benefit from current market conditions. With crude oil prices falling, Par Petroleum, which refines and sells oil, positions itself to gain. The recent drop in crude oil prices was caused by concerns that President Donald Trump’s trade war could lead to a global recession. With OPEC+ increasing oil production and Saudi Arabia cutting prices, Par Petroleum can buy cheaper crude oil and refine it for better profit margins. This ability to profit in tough market conditions has boosted investor confidence, driving up the stock price.
This independent oil and gas company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of -40.6%. Revenues are expected to be $1.61 billion, down 18.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Par Petroleum, the consensus EPS estimate for the quarter has been revised 55.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PARR going forward to see if this recent jump can turn into more strength down the road.
Par Petroleum is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, RGC Resources Inc. (RGCO - Free Report) , finished the last trading session 3.6% higher at $22.10. RGCO has returned 4.1% over the past month.
RGC Resources' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.68. Compared to the company's year-ago EPS, this represents a change of +7.9%. RGC Resources currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Par Petroleum (PARR) Moves 6.8% Higher: Will This Strength Last?
Par Petroleum (PARR - Free Report) shares ended the last trading session 6.8% higher at $13.80. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2% loss over the past four weeks.
Par Petroleum's stock price increase is mainly because the company is well-positioned to benefit from current market conditions. With crude oil prices falling, Par Petroleum, which refines and sells oil, positions itself to gain. The recent drop in crude oil prices was caused by concerns that President Donald Trump’s trade war could lead to a global recession. With OPEC+ increasing oil production and Saudi Arabia cutting prices, Par Petroleum can buy cheaper crude oil and refine it for better profit margins. This ability to profit in tough market conditions has boosted investor confidence, driving up the stock price.
This independent oil and gas company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of -40.6%. Revenues are expected to be $1.61 billion, down 18.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Par Petroleum, the consensus EPS estimate for the quarter has been revised 55.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on PARR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Par Petroleum is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, RGC Resources Inc. (RGCO - Free Report) , finished the last trading session 3.6% higher at $22.10. RGCO has returned 4.1% over the past month.
RGC Resources' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.68. Compared to the company's year-ago EPS, this represents a change of +7.9%. RGC Resources currently boasts a Zacks Rank of #3 (Hold).