Par Pacific Holdings ( (PARR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Par Pacific Holdings shares are surging as investors react to a bullish analyst report praising the successful ramp-up of its Hawaii Renewables project and clearer earnings from hedged natural gas output. The stock is also getting a lift from the faster-than-expected completion of maintenance at its Wyoming refinery, which has boosted efficiency ahead of tomorrow’s Annual General Meeting.
This strong, company-specific momentum is now being reinforced by Wall Street. Analysts at Goldman Sachs and JPMorgan have recently raised their price targets on Par Pacific, citing the company’s refining strength in its regional markets and improved operational outlook.
More about Par Pacific Holdings
YTD Price Performance: 78.17%
Average Trading Volume: 1,406,447
Technical Sentiment Signal: Buy
Current Market Cap: $3.18B
For further insights into PARR stock on TipRanks’ Stock Analysis page.
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