Par Pacific Holdings, Inc. (NYSE:PARR) Receives $36.20 Average Target Price from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average recommendation of “Hold” by the five brokerages that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $36.20.

Several research analysts have weighed in on PARR shares. Piper Sandler dropped their price objective on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. TD Cowen dropped their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently bought and sold shares of PARR. Yaupon Capital Management LP raised its position in shares of Par Pacific by 31.8% in the first quarter. Yaupon Capital Management LP now owns 520,621 shares of the company’s stock valued at $19,294,000 after purchasing an additional 125,747 shares during the period. Janus Henderson Group PLC boosted its holdings in Par Pacific by 24.2% during the first quarter. Janus Henderson Group PLC now owns 36,692 shares of the company’s stock valued at $1,358,000 after acquiring an additional 7,148 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Par Pacific by 2.6% in the first quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock valued at $24,010,000 after purchasing an additional 16,653 shares during the last quarter. Caxton Associates LP increased its stake in shares of Par Pacific by 4.6% in the first quarter. Caxton Associates LP now owns 31,065 shares of the company’s stock worth $1,151,000 after purchasing an additional 1,372 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Par Pacific by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 47,549 shares of the company’s stock worth $1,763,000 after purchasing an additional 1,935 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Price Performance

PARR opened at $25.78 on Tuesday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 3.23 and a beta of 2.01. The stock has a fifty day moving average of $27.06 and a 200-day moving average of $33.07. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. Par Pacific has a 12-month low of $23.78 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Equities analysts forecast that Par Pacific will post 2.92 EPS for the current fiscal 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.