Par Pacific Holdings, Inc. (NYSE:PARR) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a “Buy” consensus on Par Pacific, with 11 buy ratings, one strong-buy rating, and one hold rating among 13 firms. The average 12-month price target is $81.57.
• Par Pacific reported quarterly earnings of $10.10 per share, beating the $8.22 consensus estimate, while revenue rose 56.8% year over year to $2.97 billion.
• Institutional investors own 92.15% of the stock, although company insiders recently sold shares, including CEO William Monteleone’s $3.25 million transaction.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have been assigned a consensus recommendation of "Buy" from the thirteen research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $81.5714.

PARR has been the topic of several research reports. Guggenheim upgraded Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. TD Cowen dropped their price objective on shares of Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 7th. Weiss Ratings upgraded shares of Par Pacific from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. UBS Group reissued a "neutral" rating on shares of Par Pacific in a report on Wednesday, August 26th. Finally, Benchmark restated a "buy" rating on shares of Par Pacific in a research report on Wednesday, July 8th.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the transaction, the chief executive officer directly owned 457,167 shares of the company's stock, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Danielle Mattiussi sold 3,278 shares of the company's stock in a transaction dated 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 $1,875,910.62. This trade represents a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its holdings in Par Pacific by 5,095.4% in 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 acquiring an additional 3,060,068 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Par Pacific by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company's stock worth $62,363,000 after purchasing an additional 7,280 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 purchasing an additional 6,162 shares during the period. Geode Capital Management LLC boosted its stake in shares of Par Pacific by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company's stock valued at $42,954,000 after purchasing an additional 21,254 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Par Pacific by 13.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company's stock worth $35,455,000 after buying an additional 117,200 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Up 1.5%

Shares of PARR opened at $83.34 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. Par Pacific has a 52 week low of $32.24 and a 52 week high of $87.03. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 4.86 and a beta of 0.77. The stock has a fifty day moving average of $75.88 and a 200-day moving average of $63.68.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data 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. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the company posted $1.54 EPS. Par Pacific's quarterly revenue was up 56.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Par Pacific will post 21.33 earnings per share for the current fiscal year.

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.

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