Par Pacific (NYSE:PARR) Shares Up 4.5% – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price shot up 4.5% during trading on Friday . The stock traded as high as $80.70 and last traded at $80.47. 192,006 shares were traded during trading, a decline of 84% from the average daily volume of 1,192,986 shares. The stock had previously closed at $77.04.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday. Finally, Weiss Ratings downgraded shares of Par Pacific from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Par Pacific currently has an average rating of “Moderate Buy” and an average target price of $81.57.

Par Pacific Stock Performance

The business has a 50-day moving average of $71.54 and a two-hundred day moving average of $61.36. The company has a market cap of $3.97 billion, a P/E ratio of 4.62 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

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, sell-side analysts predict that Par Pacific Holdings, Inc. will post 21.33 EPS for the current fiscal year.

Insider Activity at Par Pacific

In related news, insider Danielle Mattiussi sold 3,278 shares of the business’s 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 transaction, the insider owned 27,878 shares in the company, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after purchasing an additional 4,525 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after buying an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after buying an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after buying an additional 211,002 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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 Oʻahu, 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.