Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Par Pacific Holdings, Inc. (NYSE:PARR) has received a consensus rating of "Moderate Buy" from nine brokerages, with four analysts recommending a hold and five a buy.
• Recent price target updates from analysts include Mizuho raising their target to $40.00, while Goldman Sachs lowered theirs to $19.00.
• The company's last earnings report showed $1.54 EPS, exceeding estimates, but with a revenue decrease of 6.2% year-over-year to $1.89 billion.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine brokerages that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $33.8571.

Several research analysts have recently weighed in on the company. Mizuho boosted their price target on Par Pacific from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, September 15th. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Raymond James Financial boosted their price target on Par Pacific from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Piper Sandler boosted their price target on Par Pacific from $39.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research note on Wednesday, May 28th.

Par Pacific Trading Up 0.3%

Par Pacific stock opened at $37.36 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The business's fifty day simple moving average is $32.27 and its two-hundred day simple moving average is $24.11. Par Pacific has a 12 month low of $11.86 and a 12 month high of $38.60. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -133.41 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

In related news, insider Shawn David Flores sold 8,062 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the completion of the sale, the insider owned 39,089 shares in the company, valued at approximately $1,348,570.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the sale, the senior vice president owned 41,223 shares of the company's stock, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,954 shares of company stock valued at $863,048 in the last 90 days. 4.40% of the stock is owned by company insiders.

Institutional Trading of Par Pacific

A number of hedge funds have recently bought and sold shares of PARR. Encompass Capital Advisors LLC purchased a new stake in Par Pacific during the second quarter valued at $34,609,000. FJ Investments LLC purchased a new stake in Par Pacific during the second quarter valued at $26,294,000. Nuveen LLC purchased a new stake in Par Pacific during the first quarter valued at $12,750,000. Arrowstreet Capital Limited Partnership increased its position in Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company's stock valued at $38,168,000 after acquiring an additional 681,190 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Par Pacific by 376.0% during the second quarter. JPMorgan Chase & Co. now owns 459,641 shares of the company's stock valued at $12,194,000 after acquiring an additional 363,085 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.

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.

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