Par Pacific Holdings: Don't Bet On Crack Spreads Falling This Year
Seeking Alpha
Published: Jul 08, 2026, 05:04 PM
Sentiment Analysis
Par Pacific Holdings remains a Strong Buy as robust crack spreads and tight supply drive record profitability and undervaluation. PARR is positioned for $700M+ in 2024 EBIT, with full-year EPS potentially exceeding $21.95 if current conditions persist. Despite a 60% YTD gain, PARR trades at just 2.7x forward earnings and a 44% discount to sector median EV/EBITDA multiples. Refinery margins are supported by low global inventories, resilient product spreads, and Southeast Asia’s limited strategic reserves.
Still Upstream has proven to be a great area to invest in this year as the margin spread has exploded for companies like Par Pacific Holdings ( PARR
Source: Seeking Alpha
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