Par Pacific Holdings, Inc. (NYSE:PARR) Receives $25.29 Average Target Price from Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $25.29.

Several equities analysts recently issued reports on PARR shares. Raymond James began coverage on shares of Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group dropped their price target on Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Par Pacific Stock Up 0.5 %

Shares of NYSE PARR opened at $15.92 on Wednesday. The company’s 50 day moving average price is $16.77 and its 200-day moving average price is $18.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The company has a market capitalization of $890.44 million, a P/E ratio of 3.08 and a beta of 1.99.

Insider Buying and Selling

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently modified their holdings of PARR. Pacer Advisors Inc. purchased a new position in Par Pacific in the third quarter worth $61,870,000. Solas Capital Management LLC boosted its holdings in shares of Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock worth $13,030,000 after buying an additional 641,423 shares during the last quarter. Millennium Management LLC grew its position in Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after buying an additional 586,003 shares during the period. Bridgewater Associates LP purchased a new stake in Par Pacific during the fourth quarter worth about $9,293,000. Finally, State Street Corp increased its stake in shares of Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Company Profile

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.