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

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned an average recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.50.

PARR has been the subject of several research reports. The Goldman Sachs Group decreased their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Finally, StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Par Pacific Stock Down 0.6 %

Shares of Par Pacific stock opened at $16.10 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a 1-year low of $14.84 and a 1-year high of $40.69. The business has a 50-day moving average of $16.57 and a 200-day moving average of $20.10. The company has a market capitalization of $900.83 million, a PE ratio of 3.12 and a beta of 1.99.

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

Insider Buying and Selling

In other Par Pacific news, Director William Pate sold 67,700 shares of the company’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 value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC raised its holdings in shares of Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock worth $565,000 after purchasing an additional 810 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock valued at $849,000 after buying an additional 921 shares during the last quarter. Simplicity Wealth LLC grew its stake in shares of Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company’s stock valued at $262,000 after buying an additional 923 shares in the last quarter. Finally, nVerses Capital LLC increased its holdings in Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.