Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Rating of “Hold” from Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average recommendation of “Hold” by the eight research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $28.00.

A number of research analysts have issued reports on the stock. TD Cowen cut their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group reduced their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Finally, Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th.

Par Pacific Stock Performance

PARR stock opened at $17.69 on Thursday. The company has a 50 day moving average price of $20.15 and a 200 day moving average price of $25.22. Par Pacific has a fifty-two week low of $16.71 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The stock has a market capitalization of $1.02 billion, a PE ratio of 2.21 and a beta of 1.98.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. Analysts forecast that Par Pacific will post 1.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its holdings in shares of Par Pacific by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares in the last quarter. Range Financial Group LLC lifted its stake in Par Pacific by 9.8% in the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after buying an additional 608 shares in the last quarter. Simplicity Wealth LLC boosted its holdings in shares of Par Pacific by 5.1% in the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock valued at $352,000 after buying an additional 677 shares during the period. Linden Thomas Advisory Services LLC increased its position in shares of Par Pacific by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock worth $1,108,000 after acquiring an additional 703 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Par Pacific by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock worth $413,000 after acquiring an additional 768 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

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.