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

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $51.00.

PARR has been the subject of several research analyst reports. TD Cowen upped their target price on Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Par Pacific in a report on Wednesday, February 25th. Finally, Piper Sandler set a $57.00 target price on shares of Par Pacific in a research report on Monday, January 12th.

Insider Transactions at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Par Pacific by 23.9% in the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after purchasing an additional 4,525 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after buying an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Par Pacific by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after buying an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Par Pacific by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after buying an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after buying an additional 211,002 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $55.97 on Thursday. The firm has a market cap of $2.74 billion, a PE ratio of 7.68 and a beta of 1.17. Par Pacific has a twelve month low of $12.04 and a twelve month high of $56.07. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $42.23 and a 200 day moving average price of $39.78.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company posted ($0.79) EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.