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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average rating of “Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $84.2857.

A number of brokerages have commented on PARR. Evercore upgraded shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. The Goldman Sachs Group lifted their target price on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Mizuho increased their price target on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th.

Par Pacific Trading Down 3.7%

PARR opened at $81.52 on Thursday. The firm’s 50 day moving average is $77.32 and its 200-day moving average is $64.56. Par Pacific has a 52-week low of $32.24 and a 52-week high of $87.03. 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 firm has a market capitalization of $4.08 billion, a P/E ratio of 4.76 and a beta of 0.77.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating the consensus estimate of $8.22 by $1.88. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. Analysts expect that Par Pacific will post 21.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the sale, the director directly owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in Par Pacific by 5,095.4% during the second quarter. California State Teachers Retirement System now owns 3,120,123 shares of the company’s stock valued at $174,976,000 after purchasing an additional 3,060,068 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Par Pacific by 0.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock worth $110,985,000 after buying an additional 6,162 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Par Pacific by 22.5% in the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock worth $17,811,000 after buying an additional 93,249 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Par Pacific in the 1st quarter valued at about $28,839,000. Finally, UBS Group AG boosted its holdings in shares of Par Pacific by 63.7% in the 4th quarter. UBS Group AG now owns 409,776 shares of the company’s stock valued at $14,400,000 after buying an additional 159,399 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.