Par Pacific (NYSE:PARR) Stock Jumps 4.2% – Here’s Why

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

Analyst Ratings Changes

Several research analysts recently commented on PARR shares. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. Raymond James Financial lifted their price objective on Par Pacific from $90.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Weiss Ratings raised shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Mizuho set a $91.00 price target on shares of Par Pacific and gave the company a “neutral” rating in a research report on Thursday, October 8th. Finally, The Goldman Sachs Group upped their target price on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.14.

Par Pacific Trading Down 1.8%

The stock has a market cap of $4.42 billion, a PE ratio of 5.15 and a beta of 0.75. 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 stock’s fifty day moving average price is $80.52 and its 200 day moving average price is $69.43.

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. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The company’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 EPS. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 26.30 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the transaction, the director directly owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Danielle Mattiussi sold 3,278 shares of the 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 transaction, the insider directly owned 27,878 shares in the company, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,248 shares of company stock worth $4,394,057 in the last quarter. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Par Pacific

A number of large investors have recently bought and sold shares of PARR. Encompass Capital Advisors LLC acquired a new stake in Par Pacific in the first quarter valued at approximately $28,839,000. Bank of New York Mellon Corp acquired a new stake in shares of Par Pacific in the second quarter valued at about $19,353,000. Pacer Advisors Inc. purchased a new stake in shares of Par Pacific during the first quarter worth about $16,277,000. First Trust Advisors LP boosted its holdings in Par Pacific by 395.9% in the 1st quarter. First Trust Advisors LP now owns 133,073 shares of the company’s stock worth $8,336,000 after buying an additional 106,238 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Par Pacific by 24.4% in the first quarter. Empowered Funds LLC now owns 313,605 shares of the company’s stock valued at $19,644,000 after acquiring an additional 61,464 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

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.