NYSE:PARR

Stock Analysis Report

Par Pacific Holdings

Executive Summary

Par Pacific Holdings, Inc. owns, manages, and maintains interests in energy and infrastructure businesses.


Snowflake Analysis

Fair value with questionable track record.


Similar Companies

Share Price & News

How has Par Pacific Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PARR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-7.0%

PARR

5.7%

US Oil and Gas

-2.6%

US Market


1 Year Return

-63.1%

PARR

-53.7%

US Oil and Gas

-13.3%

US Market

Return vs Industry: PARR underperformed the US Oil and Gas industry which returned -53.7% over the past year.

Return vs Market: PARR underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

PARRIndustryMarket
7 Day-7.0%5.7%-2.6%
30 Day-53.0%-25.5%-15.2%
90 Day-69.5%-48.2%-22.2%
1 Year-63.1%-63.1%-51.8%-53.7%-11.5%-13.3%
3 Year-61.2%-61.2%-48.7%-53.7%13.2%5.7%
5 Year-73.8%-73.8%-52.7%-60.0%31.8%17.2%

Price Volatility Vs. Market

How volatile is Par Pacific Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Par Pacific Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PARR ($6.6) is trading below our estimate of fair value ($20.39)

Significantly Below Fair Value: PARR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PARR is poor value based on its PE Ratio (8.2x) compared to the Oil and Gas industry average (7.6x).

PE vs Market: PARR is good value based on its PE Ratio (8.2x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PARR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PARR is overvalued based on its PB Ratio (0.5x) compared to the US Oil and Gas industry average (0.5x).


Next Steps

Future Growth

How is Par Pacific Holdings forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-3.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if PARR's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if PARR's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: PARR's revenue is expected to decline over the next 3 years (-3.9% per year).

High Growth Revenue: PARR's revenue is forecast to decline over the next 3 years (-3.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PARR's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Par Pacific Holdings performed over the past 5 years?

46.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PARR has a large one-off loss of $16.3M impacting its December 31 2019 financial results.

Growing Profit Margin: PARR's current net profit margins (0.7%) are lower than last year (1.1%).


Past Earnings Growth Analysis

Earnings Trend: PARR has become profitable over the past 5 years, growing earnings by 46.4% per year.

Accelerating Growth: PARR's earnings growth over the past year (3.9%) is below its 5-year average (46.4% per year).

Earnings vs Industry: PARR earnings growth over the past year (3.9%) exceeded the Oil and Gas industry -11.9%.


Return on Equity

High ROE: PARR's Return on Equity (6.3%) is considered low.


Next Steps

Financial Health

How is Par Pacific Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: PARR's short term assets ($1.0B) do not cover its short term liabilities ($1.0B).

Long Term Liabilities: PARR's short term assets ($1.0B) exceed its long term liabilities ($1.0B).


Debt to Equity History and Analysis

Debt Level: PARR's debt to equity ratio (94.6%) is considered high.

Reducing Debt: PARR's debt to equity ratio has increased from 44.3% to 94.6% over the past 5 years.

Debt Coverage: PARR's debt is not well covered by operating cash flow (17.2%).

Interest Coverage: PARR's interest payments on its debt are not well covered by EBIT (2.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Par Pacific Holdings's current dividend yield, its reliability and sustainability?

3.48%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PARR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate PARR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PARR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PARR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PARR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.1yrs

Average management tenure


CEO

Bill Pate (55yo)

4.5s

Tenure

US$2,460,513

Compensation

Mr. William C. Pate, also known as Bill, JD, has been the Chief Executive Officer and President of Par Pacific Holdings, Inc. since October 14, 2015. Mr. Pate served as a Managing Director and Co-President ...


CEO Compensation Analysis

Compensation vs Market: Bill's total compensation ($USD2.46M) is about average for companies of similar size in the US market ($USD2.21M).

Compensation vs Earnings: Bill's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
William Pate
President4.5yrsUS$2.46m0.40% $1.4m
William Monteleone
CFO & Director7.67yrsUS$1.35m0.42% $1.5m
James Vaughn
Chief Administrative Officer0.75yrUS$1.16m0.085% $300.2k
Jim Yates
Senior Vice President4.92yrsUS$948.93k0.079% $279.9k
Joseph Israel
Director and President & CEO of Par Petroleum5.25yrsUS$1.68m0.14% $481.4k
Ivan Guerra
Chief Accounting Officer & Controller2.08yrsno data0.039% $138.5k
Suneel Mandava
Senior Vice President of Financeno datano datano data

3.1yrs

Average Tenure

46yo

Average Age

Experienced Management: PARR's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Pate
President4.5yrsUS$2.46m0.40% $1.4m
William Monteleone
CFO & Director7.67yrsUS$1.35m0.42% $1.5m
Joseph Israel
Director and President & CEO of Par Petroleum5.25yrsUS$1.68m0.14% $481.4k
Melvyn Klein
Independent Chairman Emeritusno dataUS$270.00k0.080% $284.3k
Walter Dods
Independent Director4.83yrsUS$175.00k0.11% $385.0k
Robert Silberman
Independent Chairman of the Board1.25yrsUS$270.00k0.11% $396.0k
L. Cooper
Independent Director7.67yrsUS$167.50k0.045% $159.1k
Curtis Anastasio
Independent Director5.83yrsUS$180.00k0.14% $479.8k
Katherine Hatcher
Independent Director1.25yrsUS$160.00k0.011% $38.2k
Timothy Clossey
Independent Director5.83yrsUS$202.50k0.090% $318.5k

5.3yrs

Average Tenure

60.5yo

Average Age

Experienced Board: PARR's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PARR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.1%.


Top Shareholders

Company Information

Par Pacific Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Par Pacific Holdings, Inc.
  • Ticker: PARR
  • Exchange: NYSE
  • Founded: 1984
  • Industry: Oil and Gas Refining and Marketing
  • Sector: Energy
  • Market Cap: US$353.757m
  • Shares outstanding: 53.60m
  • Website: https://www.parpacific.com

Number of Employees


Location

  • Par Pacific Holdings, Inc.
  • 825 Town & Country Lane
  • Suite 1500
  • Houston
  • Texas
  • 77024
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PARRNYSE (New York Stock Exchange)YesCommon StockUSUSDSep 2012
61PDB (Deutsche Boerse AG)YesCommon StockDEEURSep 2012

Biography

Par Pacific Holdings, Inc. owns, manages, and maintains interests in energy and infrastructure businesses. The company operates in three segments: Refining, Retail, and Logistics. The Refining segment operates four 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 retail outlets, which sell gasoline, diesel, and retail merchandise in the island of Oahu, Maui, Hawaii, and Kauai. It operates 124 outlets under the Hele, 76, nomnom, Cenex, and Zip Trip brand names in Hawaii, Washington, and Idaho. 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 owns and operates a crude oil pipeline gathering system, a refined products pipeline, and 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 McChord Air Force Base in Washington. 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 founded in 1984 and is headquartered in Houston, Texas. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 04:49
End of Day Share Price2020/04/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.