Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Rating of “Moderate Buy” from Analysts

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

PARR has been the subject of several research analyst reports. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. UBS Group upped their target price on Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Raymond James Financial lifted their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, The Goldman Sachs Group boosted their price target on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd.

Insider Activity at Par Pacific

In other news, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PARR. NewEdge Advisors LLC bought a new stake in Par Pacific in the first quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after purchasing an additional 173 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd grew its stake in shares of Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after buying an additional 478 shares during the period. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Par Pacific in the 2nd quarter valued at about $66,000. 92.15% of the stock is owned by institutional investors.

Par Pacific Trading Up 9.5%

NYSE:PARR opened at $79.36 on Friday. Par Pacific has a 52 week low of $27.84 and a 52 week high of $87.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The firm’s fifty day moving average is $69.10 and its 200-day moving average is $60.11. The firm has a market cap of $3.98 billion, a P/E ratio of 4.63 and a beta of 0.78.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Par Pacific’s quarterly revenue was up 56.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. Equities analysts expect that Par Pacific will post 21.33 earnings per share for the current 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.