Key Points
- Director Timothy Clossey sold 10,970 Par Pacific shares at an average price of $84, generating $921,480 and reducing his ownership by 17.55% to 51,526 shares.
- Par Pacific shares opened at $84.56, near their one-year high of $87.03, while the stock posted strong recent results: quarterly EPS of $10.10 beat estimates by $1.88 and revenue rose 56.8% year over year to $2.97 billion.
- Analyst sentiment remains broadly positive, with an average “Buy” rating and an $81.57 price target; supportive refining conditions, including tight capacity and firm fuel demand, are bolstering margins.
Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) Director Timothy Clossey sold 10,970 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the sale, the director owned 51,526 shares in the company, valued at approximately $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Par Pacific Stock Up 1.2%
Shares of NYSE PARR opened at $84.56 on Friday. The business has a 50-day moving average of $76.90 and a two-hundred day moving average of $64.11. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 4.93 and a beta of 0.77. Par Pacific Holdings, Inc. has a 1 year low of $32.24 and a 1 year high of $87.03. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The business's revenue for the quarter was up 56.8% on a year-over-year basis. On average, analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.
Key Par Pacific News
Here are the key news stories impacting Par Pacific this week:
- Positive Sentiment: Refining market remains supportive: Tight refining capacity, low fuel inventories and firm demand are supporting elevated crack spreads and margins. PARR and other refiners have gained more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
- Positive Sentiment: Strong operating results and valuation: Par Pacific’s flexible crude slate and diversified refining, retail and logistics platform are viewed as supporting earnings. The company’s latest quarterly EPS of $10.10 exceeded estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. A reported 3.50x EV/EBITDA multiple is below the industry average. Par Pacific Surges 148% in a Year
- Positive Sentiment: Analyst outlook is broadly favorable: The stock carries an overall “Buy” rating, with most covering analysts recommending Buy or Strong Buy. Recent positive commentary emphasizes the company’s downstream diversification and ability to benefit from constrained industry capacity. Can Par Pacific’s Diversified Downstream Platform Drive Growth?
Analyst Upgrades and Downgrades
Several brokerages have commented on PARR. Benchmark reiterated a "buy" rating on shares of Par Pacific in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Par Pacific from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. Mizuho upped their target price on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Raymond James Financial increased their target price on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. One investment 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $81.57.
View Our Latest Analysis on PARR
Institutional Investors Weigh In On Par Pacific
Several large investors have recently modified their holdings of PARR. EverSource Wealth Advisors LLC increased its holdings in shares of Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after acquiring an additional 173 shares during the period. Natixis Advisors LLC boosted its stake in Par Pacific by 2.8% during the 4th quarter. Natixis Advisors LLC now owns 11,102 shares of the company's stock worth $390,000 after purchasing an additional 299 shares during the period. Birchbrook Inc. grew its position in Par Pacific by 12.8% during the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company's stock worth $190,000 after purchasing an additional 385 shares during the last quarter. Amundi grew its position in Par Pacific by 3.6% during the 3rd quarter. Amundi now owns 11,013 shares of the company's stock worth $388,000 after purchasing an additional 386 shares during the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Par Pacific during the 1st quarter worth $26,000. 92.15% of the stock is owned by institutional investors and hedge funds.
About Par Pacific
(
Get Free Report)
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.
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