What Makes Par Petroleum (PARR) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, with the aim of buying high and selling higher, capitalizing on established price movements [1] Company Overview: Par Petroleum (PARR) - Par Petroleum currently holds a Momentum Style Score of A, indicating strong momentum characteristics [3] - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook compared to the market [4] Performance Metrics - Over the past week, PARR shares increased by 1.05%, while the Zacks Oil and Gas - Refining and Marketing industry declined by 4.87% [6] - In the last month, PARR's price change was 14.18%, significantly outperforming the industry's 0.43% [6] - Over the past quarter, PARR shares rose by 34.74%, and over the last year, they gained 161.9%, compared to the S&P 500's increases of 5.63% and 15.42%, respectively [7] Trading Volume - PARR's average 20-day trading volume is 1,313,268 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the last two months, three earnings estimates for PARR have been revised upwards, while none have been lowered, boosting the consensus estimate from $3.10 to $8.52 [10] - For the next fiscal year, three estimates have increased, with one downward revision noted [10] Conclusion - Given the strong performance metrics and positive earnings outlook, PARR is positioned as a promising investment opportunity with a Momentum Score of A [12]