Par Pacific Holdings, Inc. (NYSE:PARR) Receives $42.14 Consensus Target Price from Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $41.7143.

Several research analysts have commented on the company. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Mizuho upped their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. UBS Group raised their target price on shares of Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Piper Sandler decreased their target price on shares of Par Pacific from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th.

Par Pacific Stock Down 1.7%

Shares of PARR opened at $37.14 on Friday. The firm has a 50 day simple moving average of $40.62 and a two-hundred day simple moving average of $35.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. Par Pacific has a one year low of $11.86 and a one year high of $48.40. The company has a market cap of $1.87 billion, a P/E ratio of 7.82 and a beta of 1.24.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company posted ($0.10) EPS. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the transaction, the executive vice president directly owned 54,654 shares of the company’s stock, valued at approximately $2,252,837.88. The trade was a 22.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Monteleone sold 99,284 shares of Par Pacific stock in a transaction on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This represents a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Par Pacific

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after buying an additional 259 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Par Pacific by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after acquiring an additional 266 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after purchasing an additional 293 shares during the period. GAMMA Investing LLC increased its stake in Par Pacific by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after purchasing an additional 382 shares in the last quarter. Finally, Amundi raised its holdings in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after purchasing an additional 386 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

About Par Pacific

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.