Par Pacific Holdings ranks among Top Analyst Picks backed by strong share repurchases. By Joel Kornblau, Editor, The Online Investor, Tuesday, September 29, 2026, 2:19 PM ET Par Pacific Holdings Inc (PARR) ranks No. 24 among stocks identified by The Online Investor as combining strong share repurchase activity with favorable Wall Street analyst sentiment. In this screen, a company qualifies only if it has repurchased at least 5% of its outstanding shares over the trailing 12 months, after which analyst recommendations from major brokerage firms are aggregated and ranked by their average score. The result places Par Pacific in a notable subset of companies where two potentially supportive signals overlap: substantial capital returned through stock buybacks and a relatively constructive analyst view. That combination does not, by itself, establish value or future outperformance. It does, however, indicate that both management and outside research analysts have identified conditions they view as favorable to shareholder returns. Why share repurchases matter. Share repurchases can be significant because they reduce the number of shares outstanding. When executed at reasonable valuations and funded in a disciplined manner, buybacks can increase per-share metrics such as earnings per share and free cash flow per share. They may also indicate that management believes the company's stock is undervalued relative to its long-term prospects. That said, buybacks are not uniformly positive. Their value depends on several factors, including the price paid for repurchased shares, the sustainability of cash generation, and whether capital is being allocated away from higher-return alternatives such as debt reduction, maintenance spending, growth investment, or acquisitions. In cyclical industries especially, investors often distinguish between opportunistic repurchases made during periods of market dislocation and buybacks pursued near peak conditions. What the analyst ranking suggests. The analyst ranking reflects a separate layer of evaluation. Brokerage analysts typically assess a company's earnings outlook, balance sheet strength, operating environment, and valuation relative to peers. When a company with meaningful buyback activity also scores well in analyst recommendations, the implication is that external research coverage broadly aligns with management's decision to retire shares. For Par Pacific Holdings, that alignment is the central takeaway. The company is not simply appearing on a buyback screen; it is also ranking as a relatively strong analyst pick within that group. This can be relevant because the market often treats repurchases more favorably when they are supported by improving fundamentals, constructive earnings expectations, or a credible capital allocation framework. Key questions investors typically ask about buybacks. What does a 5% trailing 12-month repurchase threshold indicate? It signals a meaningful reduction in the share count over a relatively short period, suggesting that management has committed a material amount of capital to repurchases. Do buybacks automatically create value? No. Repurchases are most effective when shares are bought below intrinsic value and when the company can fund them without impairing financial flexibility. Why combine buyback data with analyst ratings? The combination can help identify situations where internal capital allocation decisions and external fundamental analysis point in the same direction. Sector context for PARR. PARR operates in the Oil & Gas Refining & Marketing sector, a segment where earnings can be highly sensitive to commodity prices, crack spreads, regional supply-demand conditions, and refining utilization rates. In this part of the energy market, capital allocation decisions often carry added importance because profitability can shift materially across the cycle. Against that backdrop, repurchase activity may be interpreted as a sign that management sees value in the equity despite the sector's inherent volatility. At the same time, investors often evaluate refining and marketing companies through a cyclical lens, focusing not just on recent earnings but also on margins, balance sheet resilience, and how management deploys excess cash during stronger market periods. Among peers, Chevron Corporation (CVX) was down about 0.9% today, while Valero Energy Corp (VLO) traded lower by about 0.6%. Below is a three-month price history chart comparing the stock performance of PARR versus CVX and VLO. Bottom line. Par Pacific Holdings stands out in this screen because it combines sizable recent share repurchases with relatively strong analyst support. That combination can be meaningful in a capital-intensive, cyclical industry where capital allocation discipline often plays a large role in shareholder outcomes. PARR was trading lower by about 0.2% midday Tuesday. See what else is standing out now in Current Top Analyst Picks of the S&P 500, including names drawing attention from analysts, insiders, dividends, value, or volume. How to read broker darling screens and trading volume. Broker darling stories highlight stocks that analysts currently favor within a large-cap or dividend-oriented screen. Trading volume can show whether investor attention is increasing, especially when volume is unusual relative to normal trading. The signal is most useful when analyst support is reviewed with valuation, earnings expectations, dividend quality, and business fundamentals. Investors should treat the trading volume angle as context rather than a standalone signal.

Par Pacific appoints Jerry Stumbo Executive Vice President, Refining and Logistics. Richard Creamer to retire in April 2027; will serve as Senior Advisor through the transition. HOUSTON, Sept. 28, 2026 (GLOBE NEWSWIRE) - Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR) ("Par Pacific" or the "Company") today announced that Jerry Stumbo has joined the Company as Executive Vice President, Refining and Logistics, effective September 28, 2026. Stumbo succeeds Richard Creamer, who will serve as Senior Advisor until his planned retirement on April 1, 2027. "Richard has been instrumental in building the refining and logistics organization we have today," said William Monteleone, President and Chief Executive Officer of Par Pacific. "His deep refining expertise, thoughtful and direct leadership, and commitment to our employees shaped our culture and drove the performance and growth of our refining system, including the acquisition and integration of Par Montana. We are fortunate to have his counsel through the transition, and we are grateful for his contributions to Par Pacific and our success." Monteleone continued, "Jerry is a proven refining leader with nearly three decades of operating experience and a record of improving safety, reliability, environmental performance, and financial results. He is a visible, field-oriented leader who builds trust and accountability, which is exactly what this next chapter requires. We have a strong platform and real opportunity to continue to improve our reliability, efficiency, and commercial execution, and Jerry is the right leader to help us capture it." Stumbo joins Par Pacific from Valero Energy, where he most recently served as Vice President and General Manager of the Port Arthur, Texas Refinery. He led Valero's largest refinery and one of North America's most complex refining facilities, with approximately 435,000 barrels per day of throughput capacity and 850 employees. Stumbo previously led Valero's St. Charles, Louisiana Refinery for seven years. During his tenure, the refinery earned Valero's Chairman's Safety Award four times. He also led the organization through Hurricane Ida and the COVID-19 pandemic and completed major capital investments, including the expansion of the Diamond Green Diesel renewable fuels facility. Earlier in his career, Stumbo held operations leadership roles at Valero's Benicia, California Refinery and the Phillips 66 Santa Maria, California Refinery, following engineering and operations roles with ConocoPhillips at its San Francisco, California Refinery and Ponca City, Oklahoma Technology Center. Stumbo holds bachelor's degrees in chemical engineering and psychology from Oklahoma State University. "Par Pacific operates in markets where execution matters, and this team has built a differentiated refining and logistics system," said Stumbo. "I have spent my career in the field, alongside the people who run these assets safely and reliably every day. Richard and his team have built something strong here, and I am looking forward to building on the team's success." About Par Pacific Par Pacific Holdings, Inc. (NYSE and NYSE Texas: PARR), headquartered in Houston, Texas, is a growing energy company providing both renewable and conventional fuels to the western United States. Par Pacific owns and operates 219,000 bpd of combined refining capacity across four locations in Hawaii, the Pacific Northwest and the Rockies, and an extensive energy infrastructure network, including 13 million barrels of storage and marine, rail, rack, and pipeline assets. In addition, Par Pacific operates the Hele retail brand in Hawaii and the "nomnom" convenience store chain in the Pacific Northwest. More information is available at www.parpacific.com. Forward-Looking Statements This news release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, without limitation, statements about the leadership transition described in this news release. Forward-looking statements are subject to certain risks, trends and uncertainties, such as the risks and uncertainties detailed in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents that the Company files with the Securities and Exchange Commission. The Company cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should any of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this news release. Except as required by applicable law, the Company does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Investor Contact Ashimi Patel Vitter VP, Investor Relations & Sustainability (832) 916-3355 [email protected]

Can Par Pacific (PARR) turn a Laramie exit into refining growth? Published September 28, 2026 at 1:09 am EDT While downstream energy refiners frequently experience cyclical volatility across historical multi-year revenue growth, evidenced by a 3-year revenue CAGR of 18.4% at $8.24 billion in TTM revenue, operating cash flow generation reaching $282.6 million in Q2 2026, and a free cash flow conversion rate of 64.2% on a TTM basis, Par Pacific Holdings Inc. (NYSE:PARR) maintains strong balance sheet health backed by $1.4 billion in total liquidity. Although return on invested capital varies across refining margin cycles, posting a TTM ROIC of 14.8%, the company's long-term thesis relies on streamlining its asset mix to maximize pure-play refining capture and compounding potential. While investors evaluating energy dividend picks often prioritize yield, Par Pacific's capital reallocation strategy focuses on debt reduction and core operational leverage. The strategic catalyst arrived on August 25, when Par Pacific announced its exit from Laramie Energy, where it holds a 46% minority stake, via Laramie's agreement to sell substantially all oil and gas assets to an unnamed buyer for $485 million in cash. This transaction directly complements Par Pacific's core fundamental momentum, liquidating a non-core upstream asset that posted a second-quarter net loss of $6.7 million, generating $1.7 million in equity losses for Par Pacific, during a period when Par Pacific's core refining operations generated $552.0 million in Adjusted EBITDA. Cash in, distraction out. The transaction strengthens liquidity and capital structure metrics, delivering an anticipated $146 million net cash inflow to Par Pacific after Laramie settles outstanding debt and transaction costs, alongside potential price-linked earn-outs of up to $30 million. Set against Par Pacific's net term debt of $320.7 million as of June 30, this cash injection provides significant de-leveraging capacity alongside the company's recent $500 million notes offering, which reduced term debt by over $130 million. On the operational front, Par Pacific's core refining metrics reached exceptional levels in Q2 2026, driven by a Hawaii Index crack spread average of $46.06 per barrel, compared to $8.57 per barrel in the prior-year period. Net income expanded to $462.1 million ($9.35 per diluted share) from $59.5 million ($1.17 per diluted share) a year earlier. Operating margins expanded across the refining division as gross margin capture surged, while the completion of the Hawaii refinery turnaround restored full throughput efficiency. A detailed examination of transaction terms and operational metrics reveals several analytical nuances for investors. The $146 million proceeds include $27.5 million deferred until the fifth anniversary of closing, while the $30 million earn-out remains contingent on prevailing commodity prices through closing, expected by year-end 2026. Furthermore, Laramie showed operational improvement prior to the sale, posting Q2 2026 Adjusted EBITDAX of $17.9 million versus $12.4 million in Q2 2025. Within core operations, Q2 refining profits benefited from a $76.5 million net price lag effect resulting from declining product prices between March and June, a temporal factor that reverses during rising price environments. Operating cash flow stood at $282.6 million, impacted by a $312.2 million working capital outflow that management expects to unwind in subsequent quarters. Meanwhile, retail segment operating income moderated to $14.6 million from $20.8 million in the prior-year quarter due to margin compression at the pump. Shorts circle a cheap stock. Institutional positioning reflected modest trimming during the period, with hedge fund ownership dropping from 41 to 36 funds. From a valuation standpoint, Par Pacific trades at 10.54 times forward earnings as of September 25, a low double-digit multiple that sits just above single-digit territory and reflects market caution regarding the sustainability of peak midcycle refining margins. Meanwhile, short interest stands at 12.76% of the float, representing skepticism around cyclical margin normalization and working capital reversal timing, though a portion of short positioning may reflect institutional crack-spread hedging. Given the elevated short concentration, positive operational performance or working capital inflows could catalyze rapid share repurchases from short covering. One deal, two stories. The divestiture of Laramie Energy simplifies Par Pacific into a focused refining, retail, and logistics enterprise. If regional refining crack spreads remain elevated and working capital outflows reverse as projected, the asset sale represents prudent balance sheet management. Conversely, if refining margins contract toward historical averages, overall earnings power will depend strictly on core refinery execution rather than supplementary asset sales.