Par Pacific (NYSE:PARR) Sets New 12-Month High - Should You Buy?

Key Points

• Par Pacific (PARR) reached a new 52-week high, trading as high as $53.55 and last around $53.84, up about 5.2% on the session with roughly 158,439 shares changing hands and a market cap near $2.62 billion.
• Analyst sentiment is mixed: the consensus rating is "Hold" with an average price target of $47.33 (below the current price), while analysts are split between four Buys and five Holds.
• In the latest quarter Par reported $1.17 EPS (a $0.04 miss) but revenue of $1.81 billion beat estimates; the company shows a strong ROE (~30%) and high institutional ownership (~92%).

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $53.55 and last traded at $53.8390, with a volume of 158439 shares trading hands. The stock had previously closed at $50.92.

Wall Street Analyst Weigh In

PARR has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on Par Pacific from $39.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of Par Pacific in a research report on Monday, December 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price target on shares of Par Pacific in a report on Wednesday, February 25th. Mizuho increased their price target on shares of Par Pacific from $45.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, December 12th. Finally, Piper Sandler set a $57.00 target price on shares of Par Pacific in a report on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $47.33.

Par Pacific Stock Up 5.2%

The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 7.35 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. The firm's 50 day simple moving average is $40.45 and its 200-day simple moving average is $39.07.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted ($0.79) EPS. The firm's revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in the business. Encompass Capital Advisors LLC acquired a new stake in Par Pacific during the 2nd quarter worth approximately $34,609,000. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 1,190,088 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted 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. SG Americas Securities LLC grew its position in shares of Par Pacific by 7,787.1% during the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company's stock valued at $19,816,000 after buying an additional 556,780 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Par Pacific by 42.8% during the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock worth $53,923,000 after acquiring an additional 456,473 shares during the period. Institutional investors and hedge funds own 92.15% of the company's stock.

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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