Par Pacific (NYSE:PARR) Trading 5.7% Higher – Still a Buy?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) rose 5.7% on Monday . The company traded as high as $69.95 and last traded at $69.5190. Approximately 51,094 shares were traded during trading, a decline of 96% from the average session volume of 1,238,866 shares. The stock had previously closed at $65.78.

Analyst Ratings Changes

PARR has been the topic of several research reports. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $77.00 in a research note on Friday, April 10th. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Mizuho lifted their price objective on Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Raymond James Financial boosted their price objective on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday. Finally, UBS Group upped their target price on Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Par Pacific Stock Performance

The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 8.22 and a beta of 0.82. The firm’s 50-day moving average price is $58.34 and its two-hundred day moving average price is $52.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned ($0.94) EPS. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 17.23 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently modified their holdings of PARR. LMG Wealth Partners LLC bought a new stake in Par Pacific during the fourth quarter worth about $760,000. Massachusetts Financial Services Co. MA raised its stake in shares of Par Pacific by 105.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock valued at $2,292,000 after acquiring an additional 33,537 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Par Pacific by 22.5% in the fourth quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock valued at $17,811,000 after acquiring an additional 93,249 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its stake in shares of Par Pacific by 325.0% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock valued at $1,807,000 after acquiring an additional 39,329 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in shares of Par Pacific by 184.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 272,048 shares of the company’s stock worth $9,636,000 after acquiring an additional 176,419 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

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 O?ahu, 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.