Par Pacific (NYSE:PARR) Hits New 1-Year High - What's Next?

Key Points

• Par Pacific hit a new 52-week high of $68 (trading up ~6%), and multiple Wall Street firms raised ratings and targets—several to as high as $77—leaving a consensus rating of “Moderate Buy” with an average target of $67.
• Recent quarter showed EPS of $1.17 (slightly below the $1.21 estimate) while revenue beat at $1.81 billion; the company has a P/E of 9.10, ROE of 30.19%, and a market cap of $3.28 billion.
• CEO William Monteleone sold 108,948 shares (at about $54.06), cutting his ownership by 19.24%; insiders now own 3.60% of the stock while institutional investors hold 92.15%.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $68.00 and last traded at $66.3690, with a volume of 1667169 shares traded. The stock had previously closed at $62.61.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Par Pacific from $48.00 to $77.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 14th. Raymond James Financial lifted their target price on shares of Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. Finally, Mizuho lifted their target price on shares of Par Pacific from $49.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Par Pacific Trading Up 6.0%

The business's 50-day moving average price is $56.45 and its two-hundred day moving average price is $45.54. The company has a market capitalization of $3.28 billion, a P/E ratio of 9.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.79) earnings per share. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 14 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, the chief executive officer directly owned 457,167 shares of the company's stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company's stock valued at $66,000 after acquiring an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company's stock valued at $596,000 after acquiring an additional 266 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Par Pacific by 12.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company's stock valued at $94,000 after acquiring an additional 293 shares in the last quarter. Natixis Advisors LLC lifted its position in Par Pacific by 2.8% in the 4th quarter. Natixis Advisors LLC now owns 11,102 shares of the company's stock valued at $390,000 after acquiring an additional 299 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Par Pacific by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company's stock valued at $555,000 after acquiring an additional 382 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

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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