Par Pacific Holdings, Inc. Comm (PARR) Stock Price & How to Invest
Short answer
Par Pacific Holdings (PARR) is a small-cap, niche-market independent refiner that also runs fuel logistics and convenience-store retail across Hawaii, the Rockies, and the Pacific Northwest. It trades like a classic cyclical refiner: cheap on trailing earnings but with results that swing hard with crack spreads and turnaround timing.
PARR stock price
As of 2026-07-08, Par Pacific Holdings, Inc. Comm (PARR) last closed at $68.57, up 109.4% over the past year. Over the past 52 weeks it has traded between $27.09 and $69.20.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Par Pacific Holdings, Inc. Comm's investor relations page. Walnut is informational, not investment advice.
What does Par Pacific Holdings, Inc. Comm (PARR) do?
Par Pacific Holdings is a Houston-based diversified energy company that operates four refineries (Kapolei in Hawaii, Tacoma in Washington, Billings in Montana, and Newcastle in Wyoming) with roughly 219,000 barrels per day of combined, distillate-oriented capacity. It runs three integrated segments: Refining (gasoline, ultra-low-sulfur diesel, jet fuel, marine fuel, and asphalt), Logistics (terminals, pipelines, trucking, marine vessels, and storage), and Retail (convenience stores and fuel outlets under brands including Hele, 76, and nomnom). Because its refineries sit in supply-constrained regional markets like Hawaii and the Rockies, Par tends to face less direct competition than Gulf Coast peers.
The investment picture is that of a deep-cyclical, capital-intensive refiner. Trailing earnings look inexpensive (a single-digit P/E on roughly $7.5 billion of TTM revenue), but that reflects the market pricing in volatile, mean-reverting refining margins rather than durable growth. In April 2026 Par brought its Hawaii Renewables joint-venture fuels facility into commercial operation, a growth and decarbonization bet, while continuing to buy back shares. Results depend heavily on crack spreads, refinery uptime and turnaround schedules, and regulatory factors like small-refinery exemptions, so quarter-to-quarter earnings can move sharply, as the Q1 2026 EPS miss and share-price drop illustrated.
What's driving Par Pacific Holdings, Inc. Comm (PARR)?
1. Niche regional refining margins
Par's refineries serve supply-constrained markets like Hawaii, the Pacific Northwest, and the Rockies, where limited local competition can support wider realized margins. Q1 2026 refining adjusted gross margin expanded to about $11.16 per barrel and the segment swung to a roughly $56 million operating profit. These regional advantages are the core earnings engine.
2. Hawaii Renewables and diversification
The Hawaii Renewables joint venture reached commercial operation in April 2026, adding renewable-fuels output co-located with the Kapolei refinery. If margins and feedstock economics cooperate, it could add a new earnings stream and support decarbonization positioning. Execution and cost control on the project are the key variables.
3. Integrated logistics and retail
The Logistics and Retail segments (terminals, pipelines, storage, and convenience stores under Hele, 76, and nomnom) provide steadier, fee- and margin-based cash flows that partly offset refining volatility. This vertical integration lets Par capture value from crude processing through to the fuel pump.
4. Capital returns and balance-sheet management
Par has been repurchasing shares and generating cash when refining conditions are favorable, with full-year 2025 net income of about $369 million. How aggressively it balances buybacks, growth capital, and debt reduction shapes per-share value over time.
What are the risks to Par Pacific Holdings, Inc. Comm (PARR)?
Refining is a deep cyclical business, so earnings and cash flow swing sharply with crack spreads, crude differentials, and refined-product demand. Par carries meaningful leverage (enterprise value well above market cap), which amplifies both upside and downside. Unplanned outages and turnaround timing can dent throughput, as seen after a 2025 Wyoming outage, and a single major refinery problem is material given the concentrated asset base. Regulatory shifts on EPA small-refinery exemptions or emissions rules could remove helpful credits or add compliance costs. Longer term, electric-vehicle adoption and any structural decline in fuel demand pose a secular headwind.
How is Par Pacific Holdings, Inc. Comm (PARR) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Par Pacific Holdings, Inc. Comm's investor relations page or your broker.
- Revenue (TTM): ~$7.5B
- Net income (TTM): ~$454M
- Diluted EPS (TTM): ~$8.83
- Market cap: ~$2.9B
- Enterprise value: ~$4.1B
- Trailing P/E: ~6.6x
PARR trades at a low single-digit trailing P/E (around 6.6x) and roughly 5x EV/EBITDA, a valuation typical of cyclical refiners where the market discounts volatile, mean-reverting margins. Q1 2026 showed the swings clearly: revenue was about $1.82 billion with net income of $54.5 million and adjusted EBITDA of $91.5 million, but adjusted EPS of $0.78 missed estimates and the stock fell around 12 percent. Trailing metrics benefit from stronger prior quarters, so headline cheapness reflects cyclicality, not guaranteed value.
Who competes with Par Pacific Holdings, Inc. Comm (PARR)?
Small and mid-cap independent refiners
Delek US (DK), CVR Energy (CVI), and HF Sinclair (DINO) are the closest peers by size and business mix, running regional or mid-continent refineries with similar exposure to crack spreads, niche geographies, and small-refinery economics.
Large integrated refiners
Marathon Petroleum (MPC), Valero (VLO), Phillips 66 (PSX), and PBF Energy (PBF) are far larger and more diversified. They set benchmark refining economics and compete for crude and product markets, though Par's isolated regional assets insulate it from direct Gulf Coast competition.
Renewable and specialty fuels players
As Par builds out Hawaii Renewables, it overlaps with renewable-fuels producers such as Vertex Energy and the renewable-diesel operations of larger refiners, competing on feedstock access, credits, and low-carbon fuel demand.
How to invest in Par Pacific Holdings, Inc. Comm (PARR)
There are three common ways to get PARR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so PARR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where PARR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Par Pacific Holdings, Inc. Comm (PARR)
PARR is a leveraged, geographically-niche refining play whose value hinges on crack spreads, throughput, and the payoff from its new Hawaii renewables project rather than on steady, predictable earnings.
More on Par Pacific Holdings, Inc. Comm (PARR)
Whether PARR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PARR a buy?, and where the stock could go from here in the PARR stock forecast.
For income investors, whether PARR pays a dividend and how the payout looks is covered in does PARR pay a dividend?
Build a basket around PARR with Walnut
Use Par Pacific Holdings, Inc. Comm as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Par Pacific Holdings do?
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It is a diversified energy company that refines crude oil into fuels and asphalt, operates fuel logistics assets (terminals, pipelines, storage, and marine transport), and runs convenience-store and fuel retail outlets. It works across Hawaii, the Pacific Northwest, and the Rockies.
Where are Par Pacific's refineries?
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Par operates four refineries: Kapolei in Hawaii, Tacoma in Washington, Billings in Montana, and Newcastle in Wyoming, with combined capacity of roughly 219,000 barrels per day. Their locations in supply-constrained regions can support wider margins.
Is PARR a cheap stock?
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On trailing earnings it looks inexpensive, with a P/E around 6.6x and EV/EBITDA near 5x as of July 2026. That reflects the cyclical, volatile nature of refining margins rather than steady growth, so low multiples are common for the sector.
How did Par Pacific perform in Q1 2026?
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Par reported revenue of about $1.82 billion, net income of $54.5 million, and adjusted EBITDA of $91.5 million. Refining swung back to profit on stronger margins and record throughput, but adjusted EPS of $0.78 missed estimates and the stock dropped around 12 percent.
What is the Hawaii Renewables project?
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It is a joint venture to produce renewable fuels co-located with Par's Kapolei refinery in Hawaii. The facility reached commercial operation in April 2026 and represents a diversification and decarbonization bet whose payoff depends on feedstock costs and renewable-fuel margins.
Who are Par Pacific's main competitors?
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Closest peers are small and mid-cap independent refiners like Delek US, CVR Energy, and HF Sinclair. Larger integrated refiners such as Marathon Petroleum, Valero, and Phillips 66 set benchmark economics, though Par's isolated regional assets limit direct competition.
What are the biggest risks for PARR?
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The main risks are volatile refining margins, meaningful debt, unplanned refinery outages or turnaround timing, regulatory changes to small-refinery exemptions and emissions rules, and long-term demand erosion from electric-vehicle adoption. A single major refinery problem is material given the concentrated asset base.
Does Par Pacific pay a dividend?
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Par has historically prioritized share repurchases and balance-sheet management over a regular dividend, returning capital primarily through buybacks. Investors focused on income should confirm the current policy on the company's investor-relations materials, since capital-return plans can change.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Par Pacific Holdings, Inc. Comm's investor relations page or your broker before making investment decisions.