Par Pacific Holdings, Inc. (NYSE:PARR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $44.00.

PARR has been the topic of several analyst reports. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Mizuho boosted their target price on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. UBS Group raised their price target on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Finally, Piper Sandler set a $57.00 target price on shares of Par Pacific in a research report on Monday, January 12th.

Insider Activity

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the sale, the chief executive officer directly owned 423,022 shares in the company, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Creamer sold 15,848 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares in the company, valued at $2,252,837.88. This trade represents a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after buying an additional 266 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Par Pacific by 12.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after buying an additional 293 shares during the last quarter. GAMMA Investing LLC increased its position in Par Pacific by 2.5% during the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after buying an additional 382 shares in the last quarter. Finally, Amundi raised its holdings in shares of Par Pacific by 3.6% in the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after acquiring an additional 386 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Up 4.1%

PARR opened at $39.26 on Wednesday. Par Pacific has a 52 week low of $11.86 and a 52 week high of $48.40. The business has a 50 day moving average price of $38.65 and a two-hundred day moving average price of $36.63. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.97 billion, a PE ratio of 8.27 and a beta of 1.23.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Par Pacific Company Profile

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 Oʻahu, 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.