Par Pacific (NYSE:PARR) Hits New 12-Month High Following Analyst Upgrade

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price hit a new 52-week high during trading on Monday after Piper Sandler raised their price target on the stock from $44.00 to $62.00. Piper Sandler currently has an overweight rating on the stock. Par Pacific traded as high as $48.40 and last traded at $46.8970, with a volume of 2159610 shares changing hands. The stock had previously closed at $43.80.

Several other research analysts have also issued reports on PARR. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Mizuho raised their price target on Par Pacific from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 11th. UBS Group boosted their price objective on Par Pacific from $37.00 to $40.00 and gave the company a "neutral" rating in a report on Wednesday, November 5th. Raymond James Financial reiterated an "outperform" rating and issued a $45.00 target price (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Finally, Tudor Pickering upgraded shares of Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Par Pacific currently has an average rating of "Moderate Buy" and a consensus target price of $41.57.

Check Out Our Latest Research Report on PARR

Insider Activity

In other Par Pacific news, Director Timothy Clossey sold 2,000 shares of Par Pacific stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $33.37, for a total value of $66,740.00. Following the transaction, the director owned 84,000 shares in the company, valued at $2,803,080. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn David Flores sold 8,062 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the transaction, the insider owned 39,089 shares of the company's stock, valued at approximately $1,348,570.50. This trade represents a 17.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,638 shares of company stock valued at $1,371,866. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PARR. Charles Schwab Investment Management Inc. increased its stake in Par Pacific by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock valued at $17,194,000 after purchasing an additional 296,536 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Par Pacific by 213.5% during the second quarter. First Citizens Bank & Trust Co. now owns 48,121 shares of the company's stock valued at $1,277,000 after buying an additional 32,772 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Par Pacific in the 1st quarter valued at $3,289,000. Petrus Trust Company LTA purchased a new position in Par Pacific in the 1st quarter worth $792,000. Finally, Vestcor Inc raised its stake in shares of Par Pacific by 69.5% in the first quarter. Vestcor Inc now owns 36,100 shares of the company's stock worth $515,000 after purchasing an additional 14,800 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Up 5.8%

The company has a market capitalization of $2.33 billion, a PE ratio of -165.98 and a beta of 1.74. The business's 50-day simple moving average is $37.25 and its 200-day simple moving average is $30.64. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $3.97. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.72 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company's revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) EPS. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.

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