Par Pacific (NYSE:PARR) Hits New 1-Year High – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $66.75 and last traded at $63.95, with a volume of 1221814 shares trading hands. The stock had previously closed at $65.67.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PARR shares. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Raymond James Financial raised their price objective on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Mizuho boosted their target price on shares of Par Pacific from $49.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. The Goldman Sachs Group upped their target price on shares of Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Par Pacific has an average rating of “Hold” and a consensus price target of $55.50.

Par Pacific Trading Down 1.7%

The stock has a 50-day moving average of $47.08 and a two-hundred day moving average of $41.70. The company has a market cap of $3.05 billion, a P/E ratio of 8.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted ($0.79) earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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