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

by · The Cerbat Gem

Shares of Par Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong 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 $42.1429.

PARR has been the topic of a number of recent analyst reports. UBS Group increased their price target on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price objective (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Mizuho increased their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 8th.

View Our Latest Stock Report on PARR

Par Pacific Trading Down 3.0%

Shares of NYSE:PARR opened at $40.64 on Tuesday. Par Pacific has a 52-week low of $11.86 and a 52-week high of $48.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51. The company has a market capitalization of $2.04 billion, a P/E ratio of 8.55 and a beta of 1.25. The company has a 50-day simple moving average of $40.84 and a 200 day simple moving average of $34.12.

Par Pacific (NYSE:PARR – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping 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 firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Insider Transactions at Par Pacific

In related news, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares of the company’s stock, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the sale, the chief executive officer owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 117,132 shares of company stock worth $5,004,099. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of the business. Encompass Capital Advisors LLC bought a new position in Par Pacific during the second quarter worth about $34,609,000. Vanguard Group Inc. increased its holdings in shares of Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after purchasing an additional 1,190,088 shares during the period. FJ Investments LLC bought a new position in shares of Par Pacific during the second quarter worth approximately $26,294,000. Nuveen LLC acquired a new stake in shares of Par Pacific in the first quarter valued at approximately $12,750,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Par Pacific by 89.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after buying an additional 681,190 shares during the period. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

(Get Free Report)

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.

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