Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $28.00.

Several equities analysts have recently weighed in on the stock. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $37.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. UBS Group reduced their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Finally, TD Cowen dropped their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Par Pacific in the 1st quarter worth approximately $978,000. Russell Investments Group Ltd. lifted its holdings in shares of Par Pacific by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock worth $7,579,000 after acquiring an additional 26,485 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Par Pacific during the 1st quarter worth $2,156,000. WINTON GROUP Ltd grew its position in Par Pacific by 802.8% in the second quarter. WINTON GROUP Ltd now owns 134,185 shares of the company’s stock worth $3,388,000 after acquiring an additional 119,321 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Par Pacific by 160.2% in the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock valued at $9,033,000 after acquiring an additional 315,967 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of NYSE PARR opened at $15.61 on Monday. The firm has a market cap of $879.31 million, a price-to-earnings ratio of 2.00 and a beta of 1.99. The stock has a fifty day simple moving average of $18.61 and a two-hundred day simple moving average of $23.51. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. Par Pacific has a 1-year low of $15.31 and a 1-year high of $40.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. Analysts anticipate that Par Pacific will post 0.76 earnings per share for the current year.

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.