Par Pacific Holdings Inc (PARR)

In the past six months, Par Pacific Holdings, Inc. stock has experienced significant movements and analyst attention. Goldman Sachs upgraded Par Pacific's rating to "Buy," citing strong fundamentals and robust earnings from Hawaii operations, and JPMorgan Chase & Co. also raised its price target for PARR. PARR shares closed up despite a plunge in crude oil prices, but the stock also experienced a sharp selloff triggered by a Q1 earnings miss. Par Pacific reported its latest quarterly earnings, highlighting total revenue of $7,464.7 million and a net income attributable to Par Pacific stockholders of $369.4 million.

Demand for Par Pacific's refined products, particularly gasoline, is subject to seasonal variations, with gasoline demand highest during the summer months. Demand for gasoil is generally less sensitive to consumer mobility trends, and jet fuel demand is driven by aviation. Refineries typically undergo maintenance during the September to November period, leading to a seasonal decline in capacity utilization.

Par Pacific Holdings, Inc. is an energy and infrastructure company based in Houston, Texas, with a vertically integrated business model that includes refining, logistics, and retail operations. The company focuses on acquiring and developing businesses in logistically complex, niche markets. Its core business segments are Refining, Logistics, and Retail, and it also holds a 46% interest in Laramie Energy, LLC, a natural gas production company.

Par Pacific's primary operations are concentrated in Hawaii, the Pacific Northwest, and the Rocky Mountain regions of the United States. The company owns and operates refining facilities in Hawaii, Wyoming, and Washington, and also has operations in Montana. Its retail outlets are found in Hawaii, Washington, and Idaho. The logistics network extends across these regions, and its natural gas operations are concentrated in the Piceance Basin in Western Colorado.

In January 2024, Par Pacific's refineries in Washington and Wyoming received ENERGY STAR certification from the EPA. However, operational incidents and regulatory risks can impact reputation, such as the Wyoming refinery experiencing an operational incident in February 2025. The company also faces ongoing regulatory risks related to environmental, health, and safety laws, as well as renewable fuels mandates, and geopolitical conflicts and cybersecurity threats are also noted as potential risks to operations and reputation.

As of April 8, 2026, Par Pacific Holdings, Inc. has 325 institutional owners and shareholders holding a total of 52,239,421 shares, with institutional investors and hedge funds owning 92.15% of the stock. Major institutional owners include BlackRock, Inc., Vanguard Group Inc., and State Street Corp. Corporate insiders own 4.40% of the stock, and CEO William Monteleone sold 108,948 shares in March 2026.