Par Pacific (NYSE:PARR) Stock Price Up 4.2% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price traded up 4.2% on Tuesday. The stock traded as high as $86.64 and last traded at $86.57. Approximately 25,717 shares changed hands during trading, a decline of 98% from the average daily volume of 1,150,842 shares. The stock had previously closed at $83.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Raymond James Financial boosted their price target on Par Pacific from $90.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Mizuho set a $91.00 price target on Par Pacific and gave the stock a “neutral” rating in a research report on Thursday, October 8th. TD Cowen dropped their price objective on Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.14.

Par Pacific Stock Up 7.1%

The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 5.19 and a beta of 0.75. The stock has a fifty day moving average price of $80.02 and a two-hundred day moving average price of $69.05.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating 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 firm 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 business’s revenue for the quarter was up 56.8% compared to the same quarter last year. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 23.74 EPS for the current year.

Insider Transactions at Par Pacific

In other news, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction that occurred 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 completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC bought a new stake in shares of Par Pacific during the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 173 shares during the period. C M Bidwell & Associates Ltd. bought a new position in shares of Par Pacific in the second quarter worth $66,000. Rockefeller Capital Management L.P. increased its position in shares of Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after purchasing an additional 1,558 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Par Pacific in the second quarter worth $121,000. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

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.