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

Key Points

• Par Pacific Holdings, Inc. (NYSE:PARR) has received a consensus rating of "Moderate Buy" from eleven research firms, with a target price averaging around $28.96 per share.
• Recent changes in institutional ownership show significant investment growth, as Millennium Management LLC increased its stake by 43.4%, and Arrowstreet Capital grew its position by 89.9%.
• Par Pacific reported an earnings per share of $1.54 for the last quarter, exceeding expectations by $0.80, despite a 6.2% year-over-year drop in revenue.

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.9643.

Several equities research analysts have recently issued reports on PARR shares. Wall Street Zen lowered Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Piper Sandler raised their price objective on Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group downgraded Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Wednesday, May 28th. Mizuho set a $34.00 price target on Par Pacific and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, Zacks Research upgraded Par Pacific to a "strong-buy" rating in a report on Monday, August 11th.

Par Pacific Trading Down 2.5%

Shares of NYSE:PARR traded down $0.87 during trading on Friday, hitting $34.23. The company had a trading volume of 1,309,154 shares, compared to its average volume of 1,601,363. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -122.24 and a beta of 1.82. Par Pacific has a one year low of $11.86 and a one year high of $35.94. The company has a fifty day simple moving average of $31.32 and a two-hundred day simple moving average of $22.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56.

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, beating the consensus estimate of $0.74 by $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. As a group, equities analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn David Flores sold 8,062 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,954 shares of company stock valued at $796,308. Corporate insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PARR. Farther Finance Advisors LLC increased its holdings in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock worth $31,000 after purchasing an additional 753 shares during the period. Signaturefd LLC increased its holdings in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Par Pacific during the 1st quarter worth $35,000. Parallel Advisors LLC increased its holdings in Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock worth $35,000 after purchasing an additional 927 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Par Pacific by 157.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company's stock worth $42,000 after purchasing an additional 976 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.