Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Price Target of $90.43

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $90.43.

PARR has been the topic of several recent analyst reports. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 price target for the company. in a report on Thursday, October 8th. Weiss Ratings downgraded Par Pacific from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Finally, Benchmark reiterated a “buy” rating on shares of Par Pacific in a research note on Wednesday, July 8th.

Par Pacific Stock Down 1.0%

Shares of Par Pacific stock opened at $71.43 on Friday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 4.17 and a beta of 0.82. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The stock has a 50 day moving average price of $81.15 and a two-hundred day moving average price of $64.26. Par Pacific has a 12-month low of $34.37 and a 12-month high of $90.74.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $6.65 by $4.05. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted $5.95 earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities analysts expect that Par Pacific will post 26.42 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares in the company, valued at $1,875,910.62. This represents a 10.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the transaction, the director owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. The trade was a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,248 shares of company stock valued at $4,394,057 in the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PARR. Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific in the 1st quarter worth about $28,839,000. Bank of New York Mellon Corp acquired a new stake in shares of Par Pacific during the 2nd quarter worth about $19,353,000. Pacer Advisors Inc. acquired a new stake in shares of Par Pacific during the 1st quarter worth about $16,277,000. First Trust Advisors LP lifted its holdings in Par Pacific by 395.9% during the 1st quarter. First Trust Advisors LP now owns 133,073 shares of the company’s stock valued at $8,336,000 after purchasing an additional 106,238 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in Par Pacific by 24.4% during the 1st quarter. Empowered Funds LLC now owns 313,605 shares of the company’s stock valued at $19,644,000 after purchasing an additional 61,464 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 is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.