Par Pacific Holdings, Inc. (NYSE:PARR) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Par Pacific Holdings, Inc. has received an average analyst rating of "Hold" from nine brokerages, with five recommending a hold and four a buy.
• The company's current stock price is $30.26, with a 12-month average target price of approximately $26.68, indicating potential upside.
• Par Pacific reported a significant earnings beat with $1.54 EPS against estimates of $0.74, while its revenue for the quarter was $1.89 billion, down 6.2% year-over-year.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten ratings firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $28.9643.

Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. TD Cowen reduced their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday. Wall Street Zen raised Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Saturday. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Wednesday, May 28th. Finally, UBS Group reduced their price target on Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the business. FJ Investments LLC bought a new position in Par Pacific in the second quarter valued at about $26,294,000. Nuveen LLC purchased a new position in shares of Par Pacific in the first quarter worth approximately $12,750,000. Solas Capital Management LLC grew its position in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC increased its holdings in Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after buying an additional 586,003 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new stake in Par Pacific during the fourth quarter valued at approximately $9,293,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

Par Pacific Stock Up 0.7%

Shares of NYSE:PARR traded up $0.18 during trading on Wednesday, hitting $27.31. The stock had a trading volume of 1,117,709 shares, compared to its average volume of 1,223,408. The company has a market capitalization of $1.39 billion, a PE ratio of -97.54 and a beta of 1.83. The company has a quick ratio of 0.54, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm's fifty day moving average is $28.64 and its 200 day moving average is $20.21. Par Pacific has a 12 month low of $11.86 and a 12 month high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.