Par Pacific (NYSE:PARR) Shares Up 7.3% – Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price was up 7.3% during mid-day trading on Monday . The stock traded as high as $71.03 and last traded at $71.0990. Approximately 113,669 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,219,968 shares. The stock had previously closed at $66.29.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PARR shares. Raymond James Financial increased their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Guggenheim raised Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Mizuho lifted their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.57.

Par Pacific Trading Up 5.3%

The company has a market cap of $3.78 billion, a P/E ratio of 4.40 and a beta of 0.78. The stock’s 50-day moving average is $65.44 and its two-hundred day moving average is $57.85. 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 posted its 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. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm’s revenue was up 56.8% on a year-over-year basis. As a group, equities research analysts predict that Par Pacific Holdings, Inc. will post 19.35 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. The trade was 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 link. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC purchased a new stake in shares of Par Pacific during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 buying an additional 173 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after buying an additional 1,048 shares during the period. Aster Capital Management DIFC Ltd grew its position in Par Pacific by 34.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after buying an additional 478 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Par Pacific during the second quarter valued at approximately $66,000. Institutional investors own 92.15% of the company’s stock.

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.