Par Pacific Holdings, Inc. (NYSE:PARR) Receives $26.50 Average PT from Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has been given an average rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.50.

A number of analysts have commented on the company. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Tudor Pickering raised Par Pacific to a “hold” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group dropped their target price on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th.

Par Pacific Price Performance

Shares of PARR stock opened at $16.19 on Tuesday. The business’s fifty day moving average is $16.57 and its 200 day moving average is $20.14. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock has a market cap of $905.86 million, a price-to-earnings ratio of 3.14 and a beta of 1.99. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.15 earnings per share. Research analysts expect that Par Pacific will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Par Pacific in the third quarter valued at about $383,000. Geode Capital Management LLC boosted its holdings in shares of Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after purchasing an additional 7,804 shares during the last quarter. Vestcor Inc purchased a new position in shares of Par Pacific during the third quarter valued at about $375,000. Barclays PLC increased its holdings in shares of Par Pacific by 10.1% in the third quarter. Barclays PLC now owns 469,640 shares of the company’s stock worth $8,265,000 after purchasing an additional 42,930 shares during the last quarter. Finally, Yaupon Capital Management LP increased its holdings in shares of Par Pacific by 17.0% in the third quarter. Yaupon Capital Management LP now owns 604,828 shares of the company’s stock worth $10,645,000 after purchasing an additional 87,881 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.