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

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.83.

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, Piper Sandler lowered 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 report on Friday, September 20th.

Insider Activity

In other 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 of the company’s stock, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its position in shares of Par Pacific by 160.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares in the last quarter. Walleye Capital LLC raised its holdings in Par Pacific by 1,014.3% during the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after purchasing an additional 249,290 shares in the last quarter. State Street Corp raised its holdings in Par Pacific by 10.5% during the third 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 in the last quarter. Algert Global LLC lifted its position in Par Pacific by 63.8% in the third quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after purchasing an additional 118,393 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Par Pacific by 7.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock valued at $2,248,000 after purchasing an additional 8,844 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Trading Up 1.7 %

Shares of NYSE PARR opened at $18.12 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $19.43. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The stock has a market capitalization of $1.01 billion, a P/E ratio of 3.51 and a beta of 2.00.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.15 EPS. On average, analysts anticipate that Par Pacific will post 1.12 earnings per share 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.