10 Oversold Energy Stocks To Buy Now

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

Number of Hedge Fund Investors: 25  

Forward P/E Ratio as of November 5: 8.34

YTD Performance as of November 5: -55.99%  

Par Pacific Holdings, Inc. (NYSE:PARR) operates a diversified energy business with interests in refining, logistics, and retail distribution. The company’s core operations are based in the western United States, including Hawaii, Wyoming, Montana, and Washington. Par Pacific Holdings, Inc.’s (NYSE:PARR) refining assets and retail networks make it an important regional player in U.S. energy infrastructure, particularly in geographically isolated markets.

On October 3, J.P. Morgan made a notable switch in its stance, upgrading Par Pacific Holdings, Inc.’s (NYSE:PARR) to Overweight from Neutral. The upgrade of Par Pacific is based on the stock’s significant decline of over 50% year-to-date, which J.P. Morgan believes is an overcorrection. The firm’s analyst, John Royall, expects Par Pacific Holdings, Inc. (NYSE:PARR) to continue its aggressive share buybacks, which have been ongoing since the company’s acquisition of Billings Refinery.

Par Pacific Holdings, Inc. (NYSE:PARR) has a diversified business model. The company’s refining operations, complemented by its retail and logistics segments provide a steady stream of revenue and help mitigate the volatility associated with refining margins.