Par Pacific (NYSE:PARR) Stock Price Up 7.5% – Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price was up 7.5% during mid-day trading on Monday. The company traded as high as $81.74 and last traded at $82.9170. Approximately 41,721 shares changed hands during trading, a decline of 96% from the average session volume of 1,136,001 shares. The stock had previously closed at $77.15.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. The Goldman Sachs Group downgraded shares of Par Pacific from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $90.00 to $94.00 in a research note on Thursday, October 15th. Finally, Mizuho set a $91.00 target price on Par Pacific and gave the stock a “neutral” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and an average price target of $90.43.

Par Pacific Price Performance

The stock’s fifty day simple moving average is $81.48 and its 200-day simple moving average is $63.37.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific’s revenue was up 56.8% compared to the same quarter last year. During the same period last year, the firm earned $1.54 EPS. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 26.88 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider directly owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction 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 $37,167,677.10. This trade represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently made changes to their positions in PARR. Sage Rhino Capital LLC acquired a new position in shares of Par Pacific in the third quarter worth $205,000. Signaturefd LLC lifted its position in shares of Par Pacific by 11.3% in the third quarter. Signaturefd LLC now owns 2,448 shares of the company’s stock valued at $200,000 after acquiring an additional 249 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Par Pacific during the third quarter valued at $43,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Par Pacific during the third quarter valued at $386,000. Finally, Sterling Capital Management LLC increased its position in Par Pacific by 5.7% during the 3rd quarter. Sterling Capital Management LLC now owns 8,388 shares of the company’s stock worth $685,000 after purchasing an additional 450 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.