Par Pacific (NYSE:PARR) Shares Up 9.8% – Still a Buy?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) were up 9.8% on Friday . The stock traded as high as $79.97 and last traded at $79.53. 348,585 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,206,699 shares. The stock had previously closed at $72.45.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen cut their target price on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Benchmark reissued a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Evercore raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. UBS Group boosted their price objective on shares of Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group increased their target price on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.57.

Par Pacific Stock Up 8.9%

The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.95 billion, a P/E ratio of 4.60 and a beta of 0.78. The company’s fifty day simple moving average is $68.63 and its 200 day simple moving average is $59.97.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The business’s revenue for the quarter was up 56.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. Research analysts expect that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Insider Activity

In related news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares of the company’s stock, valued at $1,875,910.62. This trade represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after acquiring an additional 173 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Par Pacific by 2.8% in the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock valued at $390,000 after purchasing an additional 299 shares in the last quarter. Birchbrook Inc. increased its position in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after purchasing an additional 385 shares during the last quarter. Amundi increased its position in Par Pacific by 3.6% in the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after purchasing an additional 386 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in Par Pacific during the first quarter valued at $26,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.