Par Pacific (NYSE:PARR) Shares Up 4.2% – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) rose 4.2% on Tuesday. The stock traded as high as $86.64 and last traded at $86.57. 25,717 shares were traded during trading, a decline of 98% from the average session volume of 1,150,842 shares. The stock had previously closed at $83.12.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Raymond James Financial increased their target price on shares of Par Pacific from $90.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. The Goldman Sachs Group raised their price target on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Benchmark restated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Finally, Mizuho set a $91.00 target price on Par Pacific and gave the stock a “neutral” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.14.

Par Pacific Trading Up 7.1%

The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 5.19 and a beta of 0.75. The business has a 50 day moving average of $80.02 and a 200 day moving average of $69.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. Par Pacific’s revenue for the quarter was up 56.8% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. As a group, research analysts predict that Par Pacific Holdings, Inc. will post 23.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider directly owned 27,878 shares in the company, valued at $1,875,910.62. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the sale, the director directly owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,248 shares of company stock worth $4,394,057 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC bought a new position in shares of Par Pacific in the third quarter valued at $211,000. GAMMA Investing LLC increased its holdings in Par Pacific by 1.7% during the third quarter. GAMMA Investing LLC now owns 15,254 shares of the company’s stock worth $1,245,000 after buying an additional 255 shares during the last quarter. Farther Finance Advisors LLC raised its position in Par Pacific by 114.6% during the third quarter. Farther Finance Advisors LLC now owns 3,043 shares of the company’s stock worth $248,000 after acquiring an additional 1,625 shares in the last quarter. Tactive Advisors LLC bought a new stake in Par Pacific during the third quarter worth $428,000. Finally, Engineers Gate Manager LP raised its position in Par Pacific by 93.1% during the second quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock worth $6,252,000 after acquiring an additional 53,737 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.