Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.8571.

Several equities analysts have commented on the company. Cowen reaffirmed a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Piper Sandler upped their price target on Par Pacific from $39.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. UBS Group upped their price target on Par Pacific from $23.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Mizuho upped their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, September 15th.

Insider Buying and Selling

In related news, insider Shawn David Flores sold 8,062 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the sale, the insider owned 39,089 shares of the company’s stock, valued at approximately $1,348,570.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy Clossey sold 2,000 shares of Par Pacific stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $33.37, for a total value of $66,740.00. Following the completion of the sale, the director directly owned 84,000 shares in the company, valued at $2,803,080. This represents a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,954 shares of company stock worth $863,048. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. Osaic Holdings Inc. raised its position in shares of Par Pacific by 19.7% in the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after buying an additional 961 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Par Pacific during the second quarter worth $2,834,000. Caxton Associates LLP bought a new stake in shares of Par Pacific in the second quarter worth $3,429,000. Tower Research Capital LLC TRC grew its stake in shares of Par Pacific by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,134 shares of the company’s stock worth $322,000 after purchasing an additional 5,018 shares during the last quarter. Finally, Ion Asset Management Ltd. bought a new stake in shares of Par Pacific in the second quarter worth $838,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

NYSE PARR opened at $35.72 on Thursday. Par Pacific has a twelve month low of $11.86 and a twelve month high of $38.60. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The stock has a market capitalization of $1.81 billion, a PE ratio of -127.57 and a beta of 1.82. The stock has a 50-day simple moving average of $32.55 and a 200 day simple moving average of $24.76.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $0.74 by $0.80. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. Research analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

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.