Long Position on PARR @ $19.50 on 8/30/2022 (Momentum)

Par Pacific Holdings, Inc. (PARR) owns and operates energy and infrastructure businesses. 

The company operates through three segments: Refining, Retail, and Logistics.

The Refining segment owns and operates three 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 119 fuel retail outlets, which sell merchandise, such as soft drinks, prepared foods, and other sundries in Hawaii under the Hele, 76, and nomnom brands; and gasoline, diesel, and retail merchandise in Washington and Idaho under the Cenex, nomnom, and Zip Trip brand names.

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 leases marine vessels; owns and operates a crude oil pipeline gathering system, a refined products pipeline, 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 Joint Base Lewis McChord. 

On August 8th, PARR reported 2nd Quarter June 2022 earnings of $3.31 per share on revenue of $2.1 billion. The consensus earnings estimate was $1.90 per share on revenue of $1.7 billion. Revenue grew 73.0% on a year-over-year basis. Since then shares have formed a bullish "cup and handle" and shares are expected to move higher from this formation.

Entry Point: $19.50

Stop Loss: $18.50

Trading Range: $11.66 to $21.10

Target Price: $21.50

Position closed on 9/8/2022 at price of $18.40 with a -5.64% loss in 9 days.

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