Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Target Price of $84.29 According to Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has been given an average rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $85.14.

Several equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. The Goldman Sachs Group increased their price target on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. UBS Group reissued a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. Finally, Raymond James Financial raised their price target on Par Pacific from $90.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th.

Insider Activity

In other news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the transaction, the insider directly owned 27,878 shares of the company’s stock, valued at $1,875,910.62. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This trade represents a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 54,248 shares of company stock valued at $4,394,057 in the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Par Pacific by 1.7% in the third quarter. GAMMA Investing LLC now owns 15,254 shares of the company’s stock valued at $1,245,000 after acquiring an additional 255 shares during the period. Farther Finance Advisors LLC raised its position in shares of Par Pacific by 114.6% during the third quarter. Farther Finance Advisors LLC now owns 3,043 shares of the company’s stock worth $248,000 after purchasing an additional 1,625 shares during the period. Tactive Advisors LLC acquired a new stake in shares of Par Pacific during the third quarter worth about $428,000. Engineers Gate Manager LP lifted its holdings in shares of Par Pacific by 93.1% during the 2nd quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock valued at $6,252,000 after purchasing an additional 53,737 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Par Pacific during the 2nd quarter valued at about $121,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $81.88 on Monday. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Par Pacific has a 1-year low of $33.21 and a 1-year high of $89.45. The stock has a market capitalization of $4.10 billion, a P/E ratio of 4.78 and a beta of 0.75. The business has a 50-day moving average price of $80.02 and a two-hundred day moving average price of $68.82.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm earned $1.54 EPS. The company’s revenue for the quarter was up 56.8% on a year-over-year basis. Equities analysts predict that Par Pacific will post 23.74 earnings per share for the current year.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.