Par Pacific (NYSE:PARR) Hits New 1-Year High - Here's Why

Key Points

• Par Pacific shares hit a new 52-week high, trading as high as $77.33 on Monday before last changing hands near $76.99. The move came amid elevated interest in the stock and follows a sharp run-up in the share price.
• Analyst sentiment has improved notably, with multiple firms upgrading the stock recently, including Goldman Sachs, Guggenheim, and Raymond James. The current consensus rating is Moderate Buy, with an average price target of $72.00.
• Recent earnings were mixed but stronger on revenue: Par Pacific posted $0.78 EPS, missing estimates, while revenue came in at $1.82 billion, slightly ahead of expectations and up 4.5% year over year. Institutional ownership remains high at 92.15%, reflecting continued investor interest.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $77.33 and last traded at $76.9950, with a volume of 60628 shares trading hands. The stock had previously closed at $76.25.

Analyst Ratings Changes

PARR has been the subject of several research analyst reports. Wall Street Zen raised Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th. Guggenheim upgraded Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. UBS Group increased their price target on shares of Par Pacific from $60.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. Finally, Raymond James Financial boosted their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Par Pacific Stock Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The firm has a market cap of $3.85 billion, a P/E ratio of 8.58 and a beta of 0.82. The stock's 50 day moving average is $59.03 and its two-hundred day moving average is $52.93.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.22). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.94) earnings per share. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 17.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PARR. Royal Bank of Canada raised its position in Par Pacific by 23.9% in the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company's stock valued at $334,000 after purchasing an additional 4,525 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Par Pacific by 118.2% in the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company's stock valued at $2,344,000 after buying an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock worth $461,000 after buying an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock worth $2,085,000 after acquiring an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock worth $3,862,000 after acquiring an additional 211,002 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

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.

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