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

Key Points

• Par Pacific received an average analyst rating of “Moderate Buy” from 13 covering firms, with 10 Buy ratings, 1 Strong Buy, and 2 Hold ratings. The average 12-month price target is about $79.43.
• Several analysts recently raised their outlook on the stock, including JPMorgan lifting its target to $77 and TD Cowen increasing its target to $100. Other firms also reiterated or upgraded their ratings, signaling improving sentiment.
• The stock was trading near $80.56, close to its 52-week high of $82.29, after a recent 3.9% move. In its latest quarterly results, Par Pacific missed EPS estimates but beat revenue expectations and posted year-over-year revenue growth.

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $79.4286.

Several equities analysts have recently issued reports on PARR shares. JPMorgan Chase & Co. boosted their price target on shares of Par Pacific from $48.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. TD Cowen lifted their price objective on shares of Par Pacific from $78.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday. Benchmark reissued a "buy" rating on shares of Par Pacific in a research note on Wednesday, July 8th. Guggenheim raised shares of Par Pacific to an "outperform" rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 17th.

Par Pacific Stock Up 3.9%

NYSE:PARR opened at $80.56 on Wednesday. The firm has a market capitalization of $4.04 billion, a PE ratio of 8.99 and a beta of 0.82. The stock has a 50 day moving average of $59.64 and a 200-day moving average of $53.55. Par Pacific has a 52 week low of $26.83 and a 52 week high of $82.29. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period last year, the business posted ($0.94) EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that Par Pacific will post 17.85 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Birchbrook Inc. raised its holdings in shares of Par Pacific by 12.8% in the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company's stock worth $190,000 after purchasing an additional 385 shares in the last quarter. GK Wealth Management LLC bought a new stake in Par Pacific during the second quarter worth approximately $317,000. Pacer Advisors Inc. bought a new stake in Par Pacific during the first quarter worth approximately $16,277,000. NewEdge Advisors LLC acquired a new position in Par Pacific in the first quarter worth approximately $26,000. Finally, Systematic Alpha Investments LLC acquired a new position in Par Pacific in the first quarter worth approximately $351,000. Institutional investors own 92.15% of the company's stock.

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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