Par Pacific (NYSE:PARR) Trading Up 2.7% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) shares shot up 2.7% on Monday . The stock traded as high as $35.77 and last traded at $35.9650. 213,106 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,364,815 shares. The stock had previously closed at $35.01.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. Tudor, Pickering, Holt & Co. upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Piper Sandler increased their target price on shares of Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Par Pacific currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Par Pacific Price Performance

The company’s 50-day moving average is $41.20 and its 200-day moving average is $35.44. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 7.48 and a beta of 1.25. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) earnings per share. Equities research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Activity

In related news, EVP Richard Creamer sold 15,848 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the sale, the executive vice president directly owned 54,654 shares of the company’s stock, valued at $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently added to or reduced their stakes in PARR. Farther Finance Advisors LLC boosted its holdings in shares of Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after acquiring an additional 753 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Par Pacific by 232.9% during the second quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock worth $35,000 after purchasing an additional 927 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after buying an additional 976 shares during the period. Federated Hermes Inc. bought a new position in Par Pacific in the 3rd quarter valued at approximately $44,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Par Pacific during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds 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 O?ahu, 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.