Par Pacific Holdings, Inc. (NYSE:PARR) Receives $67.00 Consensus PT from Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $67.00.

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. UBS Group raised their target price on shares of Par Pacific from $40.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. TD Cowen raised their target price on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 27th. Piper Sandler raised their target price on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their target price for the company from $53.00 to $77.00 in a report on Friday, April 10th.

Par Pacific Stock Down 2.0%

Shares of NYSE PARR opened at $63.19 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific has a 52 week low of $18.71 and a 52 week high of $70.39. The firm has a 50-day moving average price of $59.71 and a 200 day moving average price of $47.04. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 7.05 and a beta of 0.91.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business earned ($0.94) EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Par Pacific will post 13.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were 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 directly owned 457,167 shares in the company, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Par Pacific by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after acquiring an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Par Pacific by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after purchasing an additional 266 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Par Pacific by 12.5% during the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after acquiring an additional 293 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Par Pacific by 2.8% during the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock worth $390,000 after acquiring an additional 299 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Par Pacific by 2.5% during the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after acquiring an additional 382 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

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.