Par Pacific (NYSE:PARR) Sets New 12-Month High – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) shares hit a new 52-week high during mid-day trading on Monday. The company traded as high as $88.34 and last traded at $87.7650, with a volume of 319477 shares changing hands. The stock had previously closed at $84.00.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PARR. The Goldman Sachs Group upped their target price on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Benchmark reiterated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Mizuho raised their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, UBS Group reissued a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $84.29.

Par Pacific Stock Up 4.2%

The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 5.09 and a beta of 0.75. The business has a 50 day moving average of $79.67 and a 200 day moving average of $67.88. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

Par Pacific (NYSE:PARR) last posted its quarterly 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 net margin of 9.94% and a return on equity of 56.19%. The business’s revenue was up 56.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 earnings per share. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 22.21 EPS for the current year.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 40,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the transaction, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. This represents a 10.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 54,248 shares of company stock valued at $4,394,057. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares in the last quarter. Birchbrook Inc. raised its stake in Par Pacific by 12.8% during the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after acquiring an additional 385 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Par Pacific during the first quarter valued at $26,000. Pictet Asset Management Holding SA lifted its holdings in shares of Par Pacific by 6.4% during the first quarter. Pictet Asset Management Holding SA now owns 7,598 shares of the company’s stock valued at $476,000 after acquiring an additional 455 shares during the period. Finally, Corient Private Wealth LP boosted its stake in shares of Par Pacific by 12.8% in the 2nd quarter. Corient Private Wealth LP now owns 5,826 shares of the company’s stock valued at $327,000 after purchasing an additional 663 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.