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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $67.00.

A number of research firms have recently weighed in on PARR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Friday, March 27th. Piper Sandler upped their price objective on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Wall Street Zen lowered Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group upped their price objective on Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th.

Insider Activity at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer owned 457,167 shares in the company, valued at approximately $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Several large investors have recently bought and sold shares of PARR. Royal Bank of Canada boosted its stake in Par Pacific by 23.9% in the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after acquiring an additional 4,525 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after buying an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Par Pacific by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after buying an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after buying an additional 6,618 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after buying an additional 211,002 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Price Performance

PARR stock opened at $60.17 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $3.02 billion, a PE ratio of 6.71 and a beta of 0.91. Par Pacific has a 12-month low of $18.82 and a 12-month high of $70.39. The business’s fifty day moving average price is $60.28 and its 200 day moving average price is $47.32.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data 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). 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 for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted ($0.94) EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Par Pacific will post 13.72 EPS for the current 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.