Par Pacific (NYSE:PARR) Sets New 1-Year High on Analyst Upgrade

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price reached a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $34.00 to $40.00. The Goldman Sachs Group currently has a neutral rating on the stock. Par Pacific traded as high as $38.97 and last traded at $39.35, with a volume of 55926 shares. The stock had previously closed at $36.88.

Several other brokerages also recently commented on PARR. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Zacks Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 22nd. Cowen reissued a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. UBS Group increased their price objective on Par Pacific from $23.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, TD Cowen reduced their price objective on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.86.

Insider Activity at Par Pacific

In other news, SVP Terrill Pitkin sold 5,164 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares of the company’s stock, valued at $1,153,007.31. This trade represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn David Flores sold 8,062 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the sale, the insider directly owned 39,089 shares of the company’s stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PARR. Farther Finance Advisors LLC raised its stake in shares of Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after acquiring an additional 753 shares in the last quarter. Signaturefd LLC raised its stake in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock valued at $34,000 after acquiring an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Par Pacific in the 1st quarter valued at approximately $35,000. Parallel Advisors LLC raised its stake in shares of Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after acquiring an additional 927 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after acquiring an additional 976 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Price Performance

The stock has a 50 day moving average of $34.57 and a two-hundred day moving average of $27.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The firm has a market capitalization of $2.05 billion, a P/E ratio of -143.88 and a beta of 1.74.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.