UBS reiterated a Neutral rating on Par Pacific Holdings (NYSE: PARR) and maintained a $65 price target, citing the company’s recent asset sale agreement as a pivotal development.
The firm kept its valuation unchanged despite Par Pacific’s shares trading at $73.93 at the time of the report, representing a 129% gain over the past 12 months. UBS analyst Manav Gupta noted the transaction as a key factor in the assessment, though the rating and target remain unaltered.
Laramie Energy, in which Par Pacific holds a 46% non-controlling stake, entered a definitive agreement to sell substantially all of its oil and gas assets for $485 million in cash. The deal includes a $60 million payment due on the fifth anniversary of closing, subject to customary adjustments. Additionally, Laramie Energy may receive up to $65 million in potential earn-out payments over the first five years post-closing, contingent on pricing.
Par Pacific reported adjusted earnings of $10.10 per share in the second quarter of 2026, exceeding analyst expectations of $7.82 per share. Revenue reached $2.97 billion, surpassing projections of $2.43 billion, while adjusted EBITDA rose to $571 million from $69 million in the prior quarter. The company attributed the performance to higher refining margins and strong plant operations.
Four analysts have revised their earnings estimates upward for the upcoming period following the results.
