Par Pacific (NYSE:PARR) Sets New 52-Week High – Here’s What Happened

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $77.33 and last traded at $76.9950, with a volume of 60628 shares trading hands. The stock had previously closed at $76.25.

Wall Street Analyst Weigh In

PARR has been the topic of several research reports. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. UBS Group boosted their price target on shares of Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Piper Sandler boosted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $53.00 to $77.00 in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.43.

Par Pacific Stock Up 3.9%

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The company has a market cap of $4.04 billion, a PE ratio of 8.99 and a beta of 0.82. The business’s 50 day moving average is $59.64 and its 200-day moving average is $53.55.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.94) earnings per share. As a group, analysts predict that Par Pacific Holdings, Inc. will post 17.85 EPS for the current year.

Institutional Trading of Par Pacific

Institutional investors have recently bought and sold shares of the business. LMG Wealth Partners LLC purchased a new position in Par Pacific in the fourth quarter valued at approximately $760,000. Massachusetts Financial Services Co. MA lifted its position in shares of Par Pacific by 105.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock worth $2,292,000 after buying an additional 33,537 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Par Pacific by 22.5% in the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock valued at $17,811,000 after buying an additional 93,249 shares in the last quarter. Jackson Creek Investment Advisors LLC boosted its holdings in shares of Par Pacific by 325.0% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock valued at $1,807,000 after buying an additional 39,329 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Par Pacific in the 4th quarter valued at $6,985,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.