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

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PARR shares. UBS Group boosted their price objective on shares of Par Pacific from $40.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. JPMorgan Chase & Co. boosted their price objective on shares of Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $53.00 to $77.00 in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.00.

Par Pacific Stock Up 6.0%

The firm’s 50-day simple moving average is $56.45 and its 200 day simple moving average is $45.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The stock has a market capitalization of $3.28 billion, a P/E ratio of 9.10 and a beta of 0.97.

Par Pacific (NYSE:PARR) last issued its quarterly 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm earned ($0.79) earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 14 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $24,714,448.02. The trade was a 19.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PARR. Royal Bank of Canada increased its stake in shares of Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after purchasing an additional 4,525 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 purchasing an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 purchasing an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the last quarter. 92.15% of the stock is currently 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.