Par Pacific (NYSE:PARR) Hits New 12-Month High – What’s Next?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $48.50 and last traded at $48.50, with a volume of 561238 shares. The stock had previously closed at $45.76.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a report on Wednesday, February 25th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Mizuho increased their price target on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. TD Cowen boosted their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average target price of $47.33.

Par Pacific Price Performance

The business’s 50-day simple moving average is $38.80 and its two-hundred day simple moving average is $38.35. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 6.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49.

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

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC raised its holdings in Par Pacific by 378.3% in the fourth quarter. Virtu Financial LLC now owns 30,215 shares of the company’s stock valued at $1,062,000 after acquiring an additional 23,898 shares in the last quarter. Compound Planning Inc. acquired a new stake in Par Pacific in the 4th quarter valued at about $392,000. Corient Private Wealth LLC purchased a new position in Par Pacific during the fourth quarter valued at approximately $344,000. XTX Topco Ltd grew its stake in Par Pacific by 271.2% in the fourth quarter. XTX Topco Ltd now owns 92,694 shares of the company’s stock valued at $3,257,000 after purchasing an additional 67,720 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in Par Pacific by 12.0% in the 4th quarter. Tudor Investment Corp ET AL now owns 304,817 shares of the company’s stock worth $10,711,000 after purchasing an additional 32,769 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Company Profile

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.