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

Key Points

• Analysts assign Par Pacific an average recommendation of "Moderate Buy" from 10 firms with a consensus 12‑month price target of $67, and several recent target upgrades including Raymond James at $77 and Piper Sandler at $72 while Zacks upgraded to a strong‑buy.
• CEO William Monteleone sold 108,948 shares on March 16 at about $54.06, reducing his stake by 19.24% (insiders now hold ~3.6%) while institutional ownership is high at ~92.15%, with Vanguard significantly increasing its position.
• Par Pacific reported quarterly EPS of $0.78 (missing estimates by $0.22) with revenue of $1.82B beating expectations; the stock trades at a PE of 6.93 and has a market cap of roughly $3.07 billion.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $67.00.

PARR has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of Par Pacific from $49.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. TD Cowen boosted their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Zacks Research upgraded shares of Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Piper Sandler boosted their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Finally, Raymond James Financial boosted their target price on shares of Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th.

Insider Activity at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer directly owned 457,167 shares in the company, valued at $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Par Pacific

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Par Pacific by 30.9% in the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company's stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Par Pacific by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company's stock valued at $62,363,000 after purchasing an additional 7,280 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Par Pacific by 0.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company's stock valued at $62,044,000 after purchasing an additional 9,470 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Par Pacific by 42.8% in the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock valued at $53,923,000 after purchasing an additional 456,473 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Par Pacific by 1.8% in the fourth 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. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

Shares of PARR stock opened at $62.14 on Friday. The firm has a market cap of $3.07 billion, a PE ratio of 6.93 and a beta of 0.91. Par Pacific has a 12 month low of $16.86 and a 12 month high of $70.39. The company's fifty day simple moving average is $58.30 and its 200-day simple moving average is $46.44. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 35.43% and a net margin of 6.02%.Par Pacific's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.94) earnings per share. Equities research analysts expect that Par Pacific will post 14.19 EPS 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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