Par Pacific (NYSE:PARR) Reaches New 52-Week High – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) hit a new 52-week high on Friday . The stock traded as high as $87.72 and last traded at $85.6850, with a volume of 206162 shares. The stock had previously closed at $86.49.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PARR. The Goldman Sachs Group boosted their price objective on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Mizuho lifted their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. UBS Group restated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Finally, Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $84.29.

Par Pacific Price Performance

The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm’s 50-day moving average price is $78.50 and its two-hundred day moving average price is $65.50. The stock has a market cap of $4.23 billion, a PE ratio of 4.93 and a beta of 0.77.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. The company had revenue of $2.97 billion for 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 firm’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, equities analysts expect that Par Pacific Holdings, Inc. will post 22.21 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other news, Director Timothy Clossey sold 10,970 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the sale, the director owned 51,526 shares in the company, valued at approximately $4,328,184. The trade was a 17.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 54,248 shares of company stock worth $4,394,057. Insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in Par Pacific during the first quarter valued at $16,277,000. The Manufacturers Life Insurance Company increased its holdings in Par Pacific by 170.6% in the first quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company’s stock valued at $3,916,000 after buying an additional 39,404 shares in the last quarter. BNP Paribas Financial Markets raised its position 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 worth $17,811,000 after acquiring an additional 93,249 shares during the period. Jackson Creek Investment Advisors LLC raised its position 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 worth $1,807,000 after acquiring an additional 39,329 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Par Pacific during the 4th quarter worth about $6,985,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.