Par Pacific Holdings (PARR) AI Stock Analysis

• Market Cap: $1.62B
• Dividend Yield: N/A
• Average Volume (3M): 1.50M
• Price to Earnings (P/E): 3.0
• Beta (1Y): 0.62
• Revenue Growth: -9.25%
• EPS Growth: -113.66%
• Country: US
• Employees: 1,787
• Sector: Energy
• Sector Strength: 54
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): -0.94
• Shares Outstanding: 51,578,860
• 10 Day Avg. Volume: 2,029,470
• 30 Day Avg. Volume: 1,504,654
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.15
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 3.46
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 0.05
• Enterprise Value/Gross Profit: 2.93
• Enterprise Value/Ebitda: 1.47
• 1Y Price Target: $24.00
• Price Target Upside: -23.69% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 68 Neutral
• Price Target: $29.00 ▼(-7.79%Downside)

Par Pacific Holdings' stock score reflects a challenging financial performance with declining revenue and profitability. However, strong technical indicators and positive corporate events provide some optimism. The valuation remains a concern due to ongoing losses, but the balanced sentiment from the earnings call suggests potential for improvement.

Positive Factors

Earnings Outlook

Industry outages in the West Coast have supported margins and set up PARR for a better earnings outlook.

Share Repurchase

PARR repurchased 5% of shares, signaling confidence in its current liquidity position and share price.

Valuation

Par Pacific Holdings trades at a lower EV/EBITDA ratio compared to the peer average, indicating a potentially attractive valuation.

Negative Factors

Earnings Decline

A steep decline in Rockies margins is contributing to a significant earnings decline.

Financial Performance

Weaker refining margin environment and lower seasonal volumes contribute to sub-par financial performance.

Operational Challenges

The operational hiccup at Wyoming will reduce rates and likely add to costs in the near term.

Par Pacific Holdings Business Overview & Revenue Model

Company Description

Par Pacific Holdings, Inc. owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota. The Retail segment operates 119 fuel retail outlets, which sell merchandise, such as soft drinks, prepared foods, and other sundries in Hawaii under the Hele, 76, and nomnom brands; and gasoline, diesel, and retail merchandise in Washington and Idaho under the Cenex, nomnom, and Zip Trip brand names. The Logistics segment owns and operates terminals, pipelines, a single point mooring, and trucking operations to distribute refined products throughout the island of Oahu, Maui, Hawaii, Molokai, and Kauai. It also leases marine vessels; owns and operates a crude oil pipeline gathering system, a refined products pipeline, storage facilities, and loading racks in Wyoming; and a jet fuel storage facility and pipeline that serves Ellsworth Air Force Base in South Dakota. In addition, this segment owns and operates a marine terminal, a unit train-capable rail loading terminal, storage facilities, a truck rack, and a proprietary pipeline that serves Joint Base Lewis McChord. The company was formerly known as Par Petroleum Corporation and changed its name to Par Pacific Holdings, Inc. in October 2015. Par Pacific Holdings, Inc. was incorporated in 1984 and is headquartered in Houston, Texas.

How the Company Makes Money

Par Pacific Holdings generates revenue through multiple channels within the energy sector. Its primary revenue streams include refining operations, where it processes crude oil into various refined products such as gasoline, diesel, and jet fuel, which are then sold to wholesale and retail customers. The company also earns income from its logistics operations, which involve the transportation and storage of crude oil and refined products. Additionally, Par Pacific operates retail outlets under various brand names, directly selling gasoline and convenience store products to consumers. Strategic partnerships and market positioning in key geographic locations further enhance the company's ability to capture market share and optimize earnings.

Par Pacific Holdings Financial Statement Overview

Summary

Par Pacific Holdings faces financial challenges with negative earnings and declining margins. Despite a strong balance sheet with no debt and positive cash flows, profitability and revenue growth decline are significant concerns.

Income Statement

The income statement shows volatility with a negative net income in the TTM period, contrasting with a profitable 2023. Gross profit margin has decreased significantly to 6.3% in TTM from 15.5% in 2023, indicating margin pressure. Revenue growth has been inconsistent, with a drop in TTM compared to 2023. Net profit margin turned negative at -0.4% in TTM, down from 8.9% in 2023, highlighting profitability challenges.

Balance Sheet

The balance sheet indicates strong equity at $1.19 billion with no debt in TTM, improving the debt-to-equity ratio to 0. The equity ratio stands robust at 100% due to a significantly negative liability value, which may require further investigation. ROE dropped substantially in TTM due to negative net income, showing a decline from 54.6% in 2023.

Cash Flow

Cash flow analysis shows positive free cash flow in TTM at $77.2 million, albeit reduced from 2023. Operating cash flow is positive but has decreased, indicating reduced cash generation capability compared to 2023. The free cash flow to net income ratio is high due to negative net income, reflecting cash flow strength despite earnings pressure.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.74B	7.97B	8.23B	7.32B	4.71B	3.12B
Gross Profit	602.19M	741.72M	1.27B	846.00M	277.37M	87.14M
EBITDA	107.64M	176.16M	805.59M	542.22M	80.56M	-271.81M
Net Income	-59.97M	-33.32M	728.64M	364.19M	-81.30M	-409.09M
Balance Sheet
Total Assets	133.75M	3.83B	3.86B	3.28B	2.57B	2.13B
Cash, Cash Equivalents and Short-Term Investments	133.75M	191.92M	279.11M	490.93M	112.22M	68.31M
Total Debt	0.00	1.57B	1.02B	870.63M	960.98M	1.08B
Total Liabilities	-978.06M	2.64B	2.53B	2.64B	2.30B	1.89B
Stockholders Equity	1.11B	1.19B	1.34B	644.54M	265.70M	246.27M
Cash Flow
Free Cash Flow	11.35M	-51.76M	496.88M	399.58M	-57.16M	-100.74M
Operating Cash Flow	124.24M	83.78M	579.16M	452.61M	-27.62M	-37.21M
Investing Cash Flow	-111.36M	-133.99M	-659.04M	-87.31M	74.63M	-63.46M
Financing Cash Flow	-49.25M	-36.96M	-135.60M	13.41M	-1.09M	42.56M

Par Pacific Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 31.45
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PARR, the sentiment is Positive. The current price of 31.45 is above the 20-day moving average (MA) of 25.87, above the 50-day MA of 21.37, and above the 200-day MA of 17.48, indicating a bullish trend. The MACD of 2.28 indicates Negative momentum. The RSI at 82.68 is Negative, neither overbought nor oversold. The STOCH value of 92.22 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PARR.

Par Pacific Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUN	73 Outperform	$8.41B	9.89	26.11%	6.52%	-3.59%	22.77%
PARR	68 Neutral	$1.62B	3.02	-4.95%	―	-9.25%	-113.66%
Sector *	68 Neutral	$15.14B	9.95	6.38%	5.21%	4.16%	-67.19%
CVI	54 Neutral	$3.00B	268.82	-27.14%	15.14%	-16.21%	-130.18%
CAPL	54 Neutral	$789.95M	26.15	666.62%	10.13%	-6.57%	-50.55%
DK	51 Neutral	$1.40B	―	-151.69%	4.41%	-29.23%	-931.43%
PBF	48 Neutral	$2.79B	―	-18.01%	4.56%	-16.30%	-160.78%

Par Pacific Holdings Corporate Events

Par Pacific Holdings Approves Key Proposals at Annual Meeting

On May 1, 2025, Par Pacific Holdings held its Annual Meeting of Stockholders, where key proposals were voted on, including the election of ten board members, the ratification of Deloitte & Touche LLP as the independent auditor for 2025, and an amendment to increase shares in the Employee Stock Purchase Plan by 500,000. The proposals were largely approved, indicating strong shareholder support for the company’s governance and strategic plans, which could enhance its operational flexibility and stakeholder confidence.