Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Target Price of $90.43 According to Brokerages

Key Points

• Analysts rate Par Pacific “Moderate Buy.” Eight analysts recommend buying the stock, four rate it a hold, and one gives it a strong-buy rating; the consensus 12-month price target is $90.43 versus a recent price of $73.20.
• Recent analyst actions were mixed, with Goldman Sachs and Mizuho downgrading the stock to neutral, while Benchmark maintained a buy rating; Goldman and Piper Sandler both set $94 price targets.
• Par Pacific reported quarterly EPS of $10.10, beating estimates of $8.22, while revenue rose 56.8% year over year to $2.97 billion. Insiders sold $4.39 million of stock over the past three months, while institutional investors own 92.15% of shares.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $90.43.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and boosted their target price for the company from $90.00 to $94.00 in a research note on Thursday, October 15th. UBS Group restated a "neutral" rating on shares of Par Pacific in a research note on Wednesday, August 26th. Benchmark reaffirmed a "buy" rating on shares of Par Pacific in a report on Wednesday, July 8th. Piper Sandler initiated coverage on Par Pacific in a research report on Tuesday. They set a "neutral" rating and a $94.00 price objective for the company. Finally, Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and set a $91.00 target price on the stock. in a report on Thursday, October 8th.

Insider Buying and Selling at Par Pacific

In related news, Director Timothy Clossey sold 10,970 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the transaction, the director owned 51,526 shares of the company's stock, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Danielle Mattiussi sold 3,278 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,248 shares of company stock worth $4,394,057 in the last three months. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Par Pacific in the second quarter worth $3,017,000. The Manufacturers Life Insurance Company lifted its stake in shares of Par Pacific by 170.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company's stock valued at $3,916,000 after buying an additional 39,404 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Par Pacific during the 1st quarter valued at $16,277,000. SummerHaven Investment Management LLC purchased a new stake in Par Pacific in the 3rd quarter worth $2,625,000. Finally, Engineers Gate Manager LP increased its stake in Par Pacific by 93.1% in the 2nd quarter. Engineers Gate Manager LP now owns 111,477 shares of the company's stock worth $6,252,000 after buying an additional 53,737 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

Par Pacific Trading Down 0.8%

Shares of NYSE:PARR opened at $73.20 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. Par Pacific has a 1 year low of $34.37 and a 1 year high of $90.74. The company has a market cap of $3.67 billion, a P/E ratio of 4.27 and a beta of 0.75. The stock's fifty day moving average price is $81.28 and its 200-day moving average price is $63.73.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating 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 firm had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The firm's quarterly revenue was up 56.8% on a year-over-year basis. Sell-side analysts expect that Par Pacific will post 26.42 earnings per share for the current year.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.

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