Par Pacific Holdings, Inc. (PARR) - Stock Analysis
Last updated: Apr 25, 2026
Research Idea
Research content for general circulation. Not individualized advice. Methodology & Disclosures
Par Pacific is a refiner with explosive near-term upside potential: FY2025 net income $369M and adj. EBITDA $633M, a 10% share-count reduction via repurchases at ~$19, and powerful crack-spread tailwinds from the crude spike have driven a ~45% 21âday rally, while valuation remains low (EV/EBIT ~6x), creating room for further upside if margins hold.
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AI Analyst Overview
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Valuation Metrics
Fundamental Analysis
Key Financial Insights: ⢠Strong Cash Flow ⢠High Profitability ⢠Debt Risk PARR looks attractively valued and highly profitable with strong cash generation, but elevated leverage and limited cash reserves create balance-sheet risk.
Price Behavior
Key Price Behavior Insights: ⢠Rebound Support ⢠Choppy Range ⢠Resistance Test Support Level: $57â$58 Resistance Level: $65.8â$66 PARR has improved over the last month with a rebound from ~$57â58 support to $64.19, but it remains volatile and needs a clean break above $65.8â$66 resistance to confirm further upside.
Sentiment & News
Key News Insights: ⢠Crack spreads ⢠Buyback support ⢠Analyst backing Par Pacific Holdings is drawing bullish attention on strong refining margins, buyback support, and rising institutional interest, though valuation looks stretched after recent gains.
AI Summary
PARR is now a stronger cash-generative, buyback-supported refiner with improving operations and strategic optionality, but after its sharp rerating the key investment question is whether recent earnings powerâboosted in part by nonrecurring SRE benefits and cyclical margin tailwindsâcan prove durable enough to justify the higher valuation and leverage risk.
Description
Par Pacific Holdings, Inc. is an energy and infrastructure company that operates through three reporting segments: Refining, Retail and Logistics. Its refining operations run three refineries that produce a range of transportation fuels, asphalt and related products for regional markets including Hawaii, the Pacific Northwest, Wyoming and South Dakota. The retail business runs 119 fuel and convenience locations under several brand names in Hawaii, Washington and Idaho, while the logistics segment manages terminals, pipelines, marine and trucking assets, storage facilities and other distribution infrastructure serving island markets and inland sites; the company is headquartered in Houston and was incorporated in 1984 (name changed in 2015).
Idea History
| Date | Close | Ticker | Company | Summary | Status | P/L |
|---|---|---|---|---|---|---|
| Mar 23 | Mar 30 | PARR | Par Pacific Holdings, Inc. | Par Pacific is a refiner with explosive near-term upside potential: FY2025 net income $369M and adj. EBITDA $633M, a 10% share-count reduction via repurchases at ~$19, and powerful crack-spread tailwinds from the crude spike have driven a ~45% 21âday rally, while valuation remains low (EV/EBIT ~6x), creating room for further upside if margins hold. | Closed | +11.7% |
| Mar 13 | Mar 20 | PARR | Par Pacific Holdings, Inc. | Refiner with strong cash and buyback catalysts: 2025 net income $369M, adjusted EBITDA $633M and ~$296M FCF support a new $250M buyback after retiring ~10% of shares in 2025. SAF partnership with Hawaiian/Alaska Airlines and distillateâheavy exposure benefit from current refining spreads. The stock is up ~30% over 21 days and ~18% above its 21âday SMA, making it a highâconviction nearâterm momentum play tied to oil and buyback execution. | Closed | +14.1% |