Does Par Pacific Holdings, Inc. (PARR) Have Any Gas After Forming This Bearish Ascending Triangle?

July 13, 2018 - By Sheila Anderson

Par Pacific Holdings, Inc. (NYSE:PARR) Logo

The stock of Par Pacific Holdings, Inc. (PARR) formed an ascending triangle with $15.64 target or 9.00 % below today’s $17.19 share price. The 6 months triangle pattern indicates high risk for the $788.71M company. If the $15.64 price target is reached, the company will be worth $70.98M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.23% or $0.04 during the last trading session, reaching $17.19. About 57,525 shares traded. Par Pacific Holdings, Inc. (NYSE:PARR) has risen 5.39% since July 13, 2017 and is uptrending. It has underperformed by 7.18% the S&P500.

Analysts await Par Pacific Holdings, Inc. (NYSE:PARR) to report earnings on August, 6. They expect $0.26 EPS, up 8.33 % or $0.02 from last year’s $0.24 per share. PARR’s profit will be $11.93 million for 16.53 P/E if the $0.26 EPS becomes a reality. After $0.18 actual EPS reported by Par Pacific Holdings, Inc. for the previous quarter, Wall Street now forecasts 44.44 % EPS growth.

Another recent and important Par Pacific Holdings, Inc. (NYSE:PARR) news was published by Bizjournals.com which published an article titled: “See which Houston public cos. were the biggest winners, losers for job growth since 2009” on June 25, 2018.

Par Pacific Holdings, Inc. owns, manages, and maintains interests in energy and infrastructure businesses. The company has market cap of $788.71 million. It operates through three divisions: Refining, Retail, and Logistics. It has a 13.83 P/E ratio. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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