Par Pacific Holdings, Inc. (NYSE:PARR) Receives $36.20 Consensus Target Price from Brokerages

Par Pacific Holdings, Inc. (NYSE:PARRGet Free Report) has been assigned an average rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $36.20.

A number of research firms recently issued reports on PARR. TD Cowen lowered their price objective on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Piper Sandler decreased their price objective on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Read Our Latest Report on PARR

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in PARR. TD Asset Management Inc increased its position in Par Pacific by 46.4% during the fourth quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock valued at $3,797,000 after acquiring an additional 33,100 shares during the last quarter. Hennessy Advisors Inc. increased its stake in shares of Par Pacific by 18.7% in the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after purchasing an additional 134,600 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Par Pacific by 14.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock worth $44,676,000 after purchasing an additional 154,571 shares during the period. Paragon Associates & Paragon Associates II Joint Venture purchased a new position in shares of Par Pacific during the 4th quarter valued at about $1,637,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Par Pacific by 5,017.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,454 shares of the company’s stock valued at $1,418,000 after purchasing an additional 38,683 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of NYSE PARR opened at $25.78 on Tuesday. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average price is $27.06 and its two-hundred day moving average price is $33.07. Par Pacific has a twelve month low of $23.78 and a twelve month high of $40.69. The company has a market cap of $1.49 billion, a PE ratio of 3.23 and a beta of 2.01.

Par Pacific (NYSE:PARRGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.12 billion. On average, analysts predict that Par Pacific will post 2.92 EPS for the current year.

About Par Pacific

(Get Free Report

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.

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Analyst Recommendations for Par Pacific (NYSE:PARR)

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