Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Recommendation of "Buy" from Analysts

Key Points

• Analysts broadly favor Par Pacific: Thirteen brokerages give the stock an average “Buy” rating, with an average 12-month price target of $84.29. Recent target changes included increases from Goldman Sachs, Mizuho and Raymond James.
• Strong quarterly results: Par Pacific reported $10.10 in EPS versus the $8.22 consensus estimate, while revenue rose 56.8% year over year to $2.97 billion.
• Insiders have been selling shares: Executives and directors sold 54,248 shares worth approximately $4.39 million in the last quarter, while institutional investors own 92.15% of the company.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have been given an average rating of "Buy" by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $84.29.

Several research firms have recently issued reports on PARR. Weiss Ratings raised shares of Par Pacific from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th. The Goldman Sachs Group increased their price objective on Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Mizuho raised their price objective on Par Pacific from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. TD Cowen lowered their price objective on Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Finally, Raymond James Financial raised their price objective on shares of Par Pacific from $90.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th.

Insider Activity at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Clossey sold 10,970 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the transaction, the director owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,248 shares of company stock worth $4,394,057 in the last quarter. Company insiders own 3.60% of the company's stock.

Institutional Trading of Par Pacific

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new position in Par Pacific during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its holdings in shares of Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after acquiring an additional 173 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Par Pacific during the second quarter valued at approximately $66,000. Rockefeller Capital Management L.P. raised its position in shares of Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock worth $69,000 after purchasing an additional 1,558 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Par Pacific during the second quarter worth approximately $121,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

Par Pacific stock opened at $83.97 on Monday. The business has a 50 day moving average of $79.67 and a 200-day moving average of $67.88. Par Pacific has a 1 year low of $33.21 and a 1 year high of $87.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. The company has a market capitalization of $4.21 billion, a P/E ratio of 4.90 and a beta of 0.75.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $1.54 EPS. The firm's revenue was up 56.8% compared to the same quarter last year. On average, equities research analysts predict that Par Pacific will post 22.21 earnings per share for the current year.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.

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