Par Pacific: Rolling The Dice With Debt-Funded Share Buybacks [Seeking Alpha]
Par Pacific Holdings, Inc. (PARR)
NASDAQ:AMEX Investor Relations:
parpacific.com/profile
Company Research
Source: Seeking Alpha
Play 13min Summary Management of Par Pacific believes they have circa $330m of excess liquidity and plan to continue share buybacks during this downturn. These will likely be debt-funded, which is controversial and raises questions regarding the extent of the risks. They have zero debt maturities for over three years, plus a healthy cash balance and no plan for higher capital expenditure, so there are no immediate issues. Their notoriously volatile industry still poses risks because the severity and length of this downturn are uncertain. If executed skilfully, it could translate into significant capital gains by removing upwards of one-third of their outstanding share count from the market. PM Images Background Following the COVID-19 crash of 2020, Par Pacific ( NYSE: PARR ) enjoyed a massive rally that lasted until early 2024. Nothing lasts forever, with subsequent months seeing their fortunes swing the other way with operating conditions deteriorating across the
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PARR
News
- Par Pacific Holdings' (NYSE:PARR) Problems Go Beyond Weak Profit [Yahoo! Finance]Yahoo! Finance
- Par Pacific Holdings, Inc. (NYSE: PARR) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Par Pacific Holdings, Inc. (NYSE: PARR) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Par Pacific Holdings Third Quarter 2024 Earnings: Beats Expectations [Yahoo! Finance]Yahoo! Finance
- Par Pacific Holdings Inc (PARR) Q3 2024 Earnings Call Highlights: Record Refining Throughput ... [Yahoo! Finance]Yahoo! Finance
PARR
Earnings
- 11/4/24 - Beat
PARR
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form 8-K
- 11/8/24 - Form SC
- PARR's page on the SEC website