Par Pacific (NYSE:PARR) Trading Up 4.5% - Still a Buy?

Key Points

• Par Pacific shares rose 4.5% to $80.47, although trading volume was 84% below the stock’s average daily volume.
• Analyst sentiment remains positive, with ten Buy ratings and three Holds giving the stock a “Moderate Buy” consensus and an average price target of $81.57.
• The company exceeded quarterly expectations, reporting EPS of $10.10 versus $8.22 expected and revenue of $2.97 billion, up 56.8% year over year.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) traded up 4.5% on Friday . The company traded as high as $80.70 and last traded at $80.47. 192,006 shares traded hands during trading, a decline of 84% from the average daily volume of 1,192,986 shares. The stock had previously closed at $77.04.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PARR. Guggenheim upgraded shares of Par Pacific to an "outperform" rating in a research report on Wednesday, May 27th. TD Cowen dropped their price objective on Par Pacific from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th. Raymond James Financial boosted their target price on Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Finally, Zacks Research cut Par Pacific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific currently has an average rating of "Moderate Buy" and a consensus target price of $81.57.

Par Pacific Price Performance

The company has a market cap of $3.99 billion, a price-to-earnings ratio of 4.65 and a beta of 0.78. The company's 50 day moving average price is $70.97 and its 200 day moving average price is $61.23. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR - Get Free Report) last issued 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. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business's revenue was up 56.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 earnings per share. Equities research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current year.

Insider Transactions at Par Pacific

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the transaction, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.60% of the company's stock.

Institutional Trading of Par Pacific

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new stake in shares of Par Pacific in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its position in Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock worth $45,000 after acquiring an additional 173 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock worth $62,000 after acquiring an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock valued at $65,000 after acquiring an additional 478 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Par Pacific in the second quarter valued at $66,000. 92.15% of the stock is owned by institutional investors and hedge funds.

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 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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