Par Pacific Holdings, Inc. (NYSE:PARR) Receives $51.00 Average Price Target from Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has been given an average rating of “Hold” by the nine analysts that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $51.00.

Several research firms have issued reports on PARR. Piper Sandler set a $57.00 price objective on Par Pacific in a report on Monday, January 12th. Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. TD Cowen boosted their target price on Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Par Pacific in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group raised their price target on Par Pacific from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, March 12th.

Par Pacific Trading Up 5.9%

Shares of NYSE PARR opened at $61.44 on Thursday. Par Pacific has a 1-year low of $12.04 and a 1-year high of $61.70. The company has a market cap of $3.01 billion, a PE ratio of 8.43 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average of $43.12 and a two-hundred day moving average of $40.13.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. Par Pacific’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned ($0.79) earnings per share. As a group, equities analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. Rockefeller Capital Management L.P. grew its holdings in Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after acquiring an additional 1,558 shares during the period. Corient Private Wealth LLC acquired a new position in shares of Par Pacific in the 4th quarter valued at $345,000. Hsbc Holdings PLC boosted its position in shares of Par Pacific by 3.3% in the 4th quarter. Hsbc Holdings PLC now owns 49,096 shares of the company’s stock worth $1,729,000 after purchasing an additional 1,578 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Par Pacific by 378.3% in the 4th quarter. Virtu Financial LLC now owns 30,215 shares of the company’s stock worth $1,062,000 after purchasing an additional 23,898 shares during the last quarter. Finally, Compound Planning Inc. acquired a new stake in shares of Par Pacific during the fourth quarter worth $392,000. 92.15% of the stock is owned by institutional investors.

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.