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

Key Points

• Analyst sentiment is favorable: Thirteen brokerages give Par Pacific a consensus “Moderate Buy” rating, including 11 buys and two holds. The average 12-month price target is $81.57.
• Quarterly results exceeded expectations: Par Pacific reported $10.10 in EPS versus an $8.22 consensus estimate, while revenue rose 56.8% year over year to $2.97 billion.
• Institutional ownership is substantial: Institutional investors own 92.15% of the company, with several funds recently initiating or expanding positions. The stock opened at $80.33 and remains near its 52-week high of $87.03.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $81.5714.

A number of equities analysts have issued reports on the company. Zacks Research lowered Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Wall Street Zen raised Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Mizuho upped their price objective on Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. The Goldman Sachs Group raised their target price on Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Evercore raised Par Pacific to an "outperform" rating in a report on Wednesday, May 27th.

Par Pacific Stock Down 2.2%

Par Pacific stock opened at $80.33 on Friday. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 4.69 and a beta of 0.78. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The company's 50-day moving average price is $66.89 and its two-hundred day moving average price is $58.63. Par Pacific has a 52 week low of $27.84 and a 52 week high of $87.03.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) 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 business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same period last year, the firm posted $1.54 earnings per share. The business's revenue was up 56.8% on a year-over-year basis. On average, analysts expect that Par Pacific will post 21.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Danielle Mattiussi sold 3,278 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. This trade represents a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 3.60% of the company's stock.

Institutional Trading of Par Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Encompass Capital Advisors LLC bought a new stake in Par Pacific during the first quarter worth approximately $28,839,000. Bank of New York Mellon Corp bought a new position in shares of Par Pacific in the second quarter valued at $19,353,000. Wells Fargo & Company MN increased its holdings in shares of Par Pacific by 810.8% in the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company's stock valued at $12,645,000 after buying an additional 320,326 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Par Pacific by 22.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company's stock valued at $62,203,000 after buying an additional 317,484 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Par Pacific during the 4th quarter valued at $9,576,000. 92.15% of the stock is currently owned by institutional investors.

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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