Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Rating of “Hold” from Brokerages

by · The Markets Daily

Par Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) has received an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.33.

Several analysts have recently issued reports on the stock. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. TD Cowen dropped their target price on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Piper Sandler cut their price target on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. UBS Group decreased their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. cut their target price on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd.

View Our Latest Report on PARR

Par Pacific Stock Performance

NYSE:PARR opened at $19.69 on Friday. The company has a market capitalization of $1.14 billion, a P/E ratio of 2.46 and a beta of 1.99. The business has a fifty day simple moving average of $22.66 and a two-hundred day simple moving average of $27.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. Par Pacific has a 1 year low of $18.00 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. On average, analysts expect that Par Pacific will post 2.01 earnings per share for the current year.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently modified their holdings of the business. Hennessy Advisors Inc. bought a new stake in shares of Par Pacific during the 4th quarter worth $26,128,000. Millennium Management LLC lifted its stake in Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Par Pacific by 28.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after purchasing an additional 268,219 shares in the last quarter. Thomist Capital Management LP increased its position in shares of Par Pacific by 176.2% during the 1st quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock valued at $13,818,000 after purchasing an additional 237,844 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Par Pacific by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after buying an additional 175,331 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

(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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