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

Par Pacific Holdings, Inc. (NYSE:PARR) reached a new 52-week high 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.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of research reports. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Mizuho lifted their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Piper Sandler raised their price target on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Finally, TD Cowen decreased their price target on Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.29.

Par Pacific Trading Down 0.9%

The business has a 50 day simple moving average of $36.45 and a 200 day simple moving average of $29.65. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The company has a market cap 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 earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value 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. This represents a 17.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,802 shares of company stock worth $1,516,303. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

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

Par Pacific Company Profile

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.