Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Price Target of $90.43

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $90.43.

A number of research firms recently commented on PARR. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 target price for the company. in a research report on Thursday, October 8th. Piper Sandler initiated coverage on Par Pacific in a research report on Tuesday, October 27th. They issued a “neutral” rating and a $94.00 target price on the stock. Weiss Ratings raised Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price objective on shares of Par Pacific in a report on Monday, October 19th.

Par Pacific Stock Down 0.1%

Shares of NYSE:PARR opened at $76.20 on Friday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 4.45 and a beta of 0.82. The business’s 50-day moving average is $81.36 and its 200-day moving average is $63.93. Par Pacific has a 1 year low of $34.37 and a 1 year high of $90.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The firm’s quarterly revenue was up 56.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 EPS. Equities research analysts predict that Par Pacific will post 26.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the sale, the insider directly owned 27,878 shares of the company’s stock, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,248 shares of company stock valued at $4,394,057 over the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in shares of Par Pacific in the 1st quarter worth $26,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Par Pacific during the third quarter worth about $43,000. USA Financial Formulas purchased a new position in Par Pacific in the third quarter valued at about $45,000. Fortitude Family Office LLC grew its holdings in Par Pacific by 498.1% in the third quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock valued at $50,000 after purchasing an additional 513 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.