Par Pacific (NYSE:PARR) Stock Price Up 7.5% - Time to Buy?

Key Points

• Par Pacific shares rose 7.5% to approximately $82.92, though trading volume was 96% below the average session volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $87.29; recent ratings include a $117 target from Raymond James and a $95 target from TD Cowen.
• The company reported strong quarterly results, with EPS of $10.10 beating estimates by $1.88 and revenue increasing 56.8% year over year to $2.97 billion. However, insiders have sold 54,248 shares worth about $4.39 million over the past three months.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price rose 7.5% during trading on Monday. The stock traded as high as $81.74 and last traded at $82.9170. 41,721 shares were traded during trading, a decline of 96% from the average session volume of 1,136,001 shares. The stock had previously closed at $77.15.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reiterated a "neutral" rating on shares of Par Pacific in a report on Wednesday, August 26th. Raymond James Financial restated an "outperform" rating and set a $117.00 price target on shares of Par Pacific in a report on Monday, October 19th. Benchmark restated a "buy" rating on shares of Par Pacific in a report on Wednesday, July 8th. TD Cowen lowered their price target on Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Zacks Research upgraded Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.29.

Par Pacific Price Performance

The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The business's 50 day moving average price is $81.61 and its two-hundred day moving average price is $70.34. The stock has a market cap of $4.16 billion, a P/E ratio of 4.85 and a beta of 0.75.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. Par Pacific's revenue was up 56.8% on a year-over-year basis. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 26.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 40,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company's stock, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the transaction, the insider owned 27,878 shares of the company's stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in Par Pacific in the first quarter worth $26,000. Carolina Wealth Advisors LLC purchased a new position in Par Pacific during the third quarter valued at $43,000. EverSource Wealth Advisors LLC lifted its position in Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after buying an additional 173 shares during the period. USA Financial Formulas purchased a new position in Par Pacific during the third quarter valued at $45,000. Finally, Fortitude Family Office LLC lifted its position in Par Pacific by 498.1% during the third quarter. Fortitude Family Office LLC now owns 616 shares of the company's stock valued at $50,000 after buying an additional 513 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.