Par Pacific stock has traded in an uptrend for an entire year now. The company is a Houston, Texas-based integrated energy company that owns and operates refining, retail, and logistics businesses. The company owns and operates two refineries, two retail networks, and a logistics system that include terminals, storage, and pipelines. It also owns and operates retail sites in Hawaii and Wyoming. The company’s products include gasoline, diesel, jet fuel, asphalt, renewable diesel, and other related products.
Technical Analysis: Par Pacific Stock
Par Pacific stock is in a technical strong uptrend. The chart has formed what I call a Dragon pattern which is characterized by a 1 year long uptrend that forms 3 humps in the 6-month time frame (on a daily chart) that resemble a dragon flying upward. The Dragon pattern is extremely rare and bullish!
Fundamental Analysis: Par Pacific Stock
Here’s the crazy thing. You would expect a stock that has been in an uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... for the last year would be overvalued. It’s nuts that $PARR is actually still undervalued!
Par Pacific stock trades at a P/E of 5.8 and a Forward P/E of 5.4. The stock has a sizzling hot P/S ratio of just 0.24! Yes folks, the company has a market cap of $1.6 billion, but it did $6.8 billion in salesThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... last year.
With a price target of $33, up from $27, Piper Sandler analyst Ryan Todd upgraded Par Pacific to Overweight from Neutral on January 20, 2023. According to Todd, the closing of the Billings acquisition, which is anticipated in Q2, will be significant for Par because it will increase portfolio scale and quality. According to Todd, who also points out that his 2023 EPS estimate is currently 114 percent higher than the Street view, Par has above average distillate and heavy crude leverage, a greatly improved balance sheetThe balance sheet is a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and equity., and major tailwinds in the form of China’s reopening and increased jet strength.