Par Pacific Holdings, Inc. (NYSE:PARR) Given Average Recommendation of “Hold” by Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.50.

A number of analysts have recently weighed in on PARR shares. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. The Goldman Sachs Group cut their price objective on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd.

Par Pacific Price Performance

NYSE PARR opened at $16.10 on Tuesday. The firm has a market cap of $900.83 million, a P/E ratio of 3.12 and a beta of 1.99. The stock’s 50-day moving average is $16.57 and its two-hundred day moving average is $20.10. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.15 EPS. On average, analysts anticipate that Par Pacific will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PARR. Sanctuary Advisors LLC acquired a new stake in Par Pacific during the third quarter worth $383,000. Geode Capital Management LLC lifted its holdings in shares of Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after acquiring an additional 7,804 shares during the period. Vestcor Inc acquired a new stake in shares of Par Pacific during the 3rd quarter valued at about $375,000. Barclays PLC increased its stake in Par Pacific by 10.1% in the third quarter. Barclays PLC now owns 469,640 shares of the company’s stock valued at $8,265,000 after acquiring an additional 42,930 shares during the period. Finally, Yaupon Capital Management LP raised its position in Par Pacific by 17.0% in the third quarter. Yaupon Capital Management LP now owns 604,828 shares of the company’s stock worth $10,645,000 after purchasing an additional 87,881 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.