Par Pacific (NYSE:PARR) Shares Up 9.8% – Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) shares were up 9.8% on Friday . The stock traded as high as $79.97 and last traded at $79.53. Approximately 348,585 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,206,699 shares. The stock had previously closed at $72.45.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PARR shares. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Raymond James Financial increased their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Weiss Ratings downgraded shares of Par Pacific from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. TD Cowen dropped their target price 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, Evercore raised Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific presently has an average rating of “Moderate Buy” and an average target price of $81.57.

Par Pacific Stock Performance

The firm has a market capitalization of $3.98 billion, a P/E ratio of 4.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. The firm has a 50-day moving average price of $69.10 and a two-hundred day moving average price of $60.11.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 56.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, analysts forecast that Par Pacific Holdings, Inc. will post 21.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the transaction, the insider directly owned 27,878 shares in the company, valued at $1,875,910.62. This represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently modified their holdings of PARR. NewEdge Advisors LLC bought a new position in Par Pacific in the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after purchasing an additional 173 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after buying an additional 478 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Par Pacific in the 2nd quarter worth $66,000. Institutional investors 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.