Par Pacific (NYSE:PARR) Reaches New 1-Year High – Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $41.92 and last traded at $41.0960, with a volume of 2705 shares trading hands. The stock had previously closed at $41.15.

Analyst Upgrades and Downgrades

PARR has been the topic of several research reports. UBS Group increased their target price on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Par Pacific in a report on Wednesday, October 8th. Tudor, Pickering, Holt & Co. upgraded Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho raised their price target on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.29.

Par Pacific Stock Down 0.9%

The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $36.45 and a two-hundred day moving average price of $29.65. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -144.96 and a beta of 1.74.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Activity

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 5,228 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total transaction of $180,627.40. Following the completion of the transaction, the insider owned 24,679 shares in the company, valued at approximately $852,659.45. The trade was a 17.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the transaction, the chief accounting officer directly owned 17,491 shares in the company, valued at $614,109.01. This represents a 23.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,802 shares of company stock worth $1,516,303 over the last ninety days. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of PARR. Vanguard Group Inc. grew its stake in Par Pacific by 30.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after buying an additional 1,190,088 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Par Pacific by 89.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock worth $38,168,000 after purchasing an additional 681,190 shares during the period. Encompass Capital Advisors LLC bought a new stake in Par Pacific during the 2nd quarter valued at approximately $34,609,000. Charles Schwab Investment Management Inc. grew its holdings in Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after buying an additional 296,536 shares during the last quarter. Finally, Invesco Ltd. increased its position in Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock worth $16,500,000 after buying an additional 67,481 shares during the period. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.