Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Rating of “Hold” from Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has been given an average rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $28.00.

A number of analysts have commented on PARR shares. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. UBS Group dropped their price target on shares of 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, StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC boosted its stake in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Par Pacific in the 2nd quarter worth approximately $43,000. Quarry LP raised its holdings in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after acquiring an additional 2,027 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Par Pacific in the second quarter valued at $104,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $17.40 on Friday. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69. The firm has a market capitalization of $973.56 million, a price-to-earnings ratio of 3.37 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $17.38 and a 200 day moving average of $21.78.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm posted $3.15 EPS. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, research analysts anticipate that Par Pacific will post 0.95 earnings per share for the current year.

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.