Par Pacific Holdings, Inc. (NYSE:PARR) Receives $28.00 Consensus Target Price from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.00.

Several equities research analysts have commented on PARR shares. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $23.00 in a report on Friday, September 20th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. TD Cowen dropped 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 note on Friday, August 9th. 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. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th.

Par Pacific Trading Up 9.5 %

PARR opened at $16.54 on Monday. The stock has a market cap of $931.70 million, a PE ratio of 3.21 and a beta of 1.99. The business has a 50 day moving average of $18.36 and a 200-day moving average of $23.29. Par Pacific has a 52 week low of $14.84 and a 52 week high of $40.69. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

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 analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 9.96%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the company earned $3.15 earnings per share. The business’s revenue was down 16.9% compared to the same quarter last year. Equities research analysts predict that Par Pacific will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. MQS Management LLC bought a new position in Par Pacific in the third quarter worth approximately $185,000. GSA Capital Partners LLP bought a new stake in Par Pacific during the third quarter valued at about $925,000. Harbor Capital Advisors Inc. increased its position in Par Pacific by 160.2% in the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Par Pacific by 2.4% in the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock worth $929,000 after buying an additional 1,226 shares during the period. Finally, State of Alaska Department of Revenue lifted its position 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 valued at $565,000 after buying an additional 810 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

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.