Brokerages Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $44.00

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $47.3333.

PARR has been the topic of a number of research reports. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. UBS Group increased their price target on shares of Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Mizuho lifted their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, TD Cowen increased their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after buying an additional 976 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Par Pacific in the third quarter valued at about $44,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Par Pacific during the third quarter worth about $48,000. Smartleaf Asset Management LLC raised its holdings in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in Par Pacific in the third quarter valued at about $82,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Trading Up 4.9%

Shares of Par Pacific stock opened at $42.62 on Friday. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $38.39 and a 200-day simple moving average of $38.04. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 5.85 and a beta of 1.23. Par Pacific has a 12-month low of $11.86 and a 12-month high of $48.40.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 32.01%. Par Pacific’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned ($0.79) earnings per share. On average, equities analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.