Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) Target Price at $79.43

Par Pacific Holdings, Inc. (NYSE:PARR) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $81.5714.

PARR has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho increased their target price on shares of Par Pacific from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. Piper Sandler lifted their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after acquiring an additional 4,525 shares during the last quarter. AQR Capital Management LLC lifted its position in Par Pacific by 118.2% in the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after purchasing an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Par Pacific by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $77.35 on Wednesday. The firm has a market capitalization of $3.88 billion, a PE ratio of 8.63 and a beta of 0.82. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Par Pacific has a 12 month low of $26.83 and a 12 month high of $82.29. The business’s 50-day moving average price is $60.76 and its 200-day moving average price is $54.32.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.94) EPS. Sell-side analysts forecast that Par Pacific will post 18.6 EPS for the current fiscal year.

About Par Pacific

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.