Par Pacific (NYSE:PARR) Hits New 12-Month High – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.07 and last traded at $55.9730, with a volume of 1416865 shares trading hands. The stock had previously closed at $52.94.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PARR shares. Mizuho raised their price target on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. TD Cowen upped their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Par Pacific presently has an average rating of “Hold” and an average price target of $51.00.

Par Pacific Stock Performance

The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $42.23 and a 200 day moving average price of $39.78. The stock has a market cap of $2.74 billion, a PE ratio of 7.68 and a beta of 1.17.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company earned ($0.79) earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Activity at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Par Pacific in the 3rd quarter valued at $1,149,000. Principal Financial Group Inc. lifted its stake in shares of Par Pacific by 38.5% during the 3rd quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock worth $12,554,000 after purchasing an additional 98,524 shares during the last quarter. Creative Planning boosted its position in Par Pacific by 43.8% during the second quarter. Creative Planning now owns 50,438 shares of the company’s stock valued at $1,338,000 after purchasing an additional 15,362 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after purchasing an additional 681,190 shares in the last quarter. Finally, Barclays PLC grew its stake in Par Pacific by 24.9% in the third quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after purchasing an additional 140,514 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.