Par Pacific Holdings, Inc. (NYSE:PARR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $70.00.

A number of brokerages have recently issued reports on PARR. Evercore upgraded Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Piper Sandler boosted their price target on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. UBS Group boosted their price target on Par Pacific from $40.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Finally, Raymond James Financial boosted their price target on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th.

Insider Activity

In related news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently made changes to their positions in PARR. Federated Hermes Inc. bought a new stake in shares of Par Pacific in the third quarter valued at approximately $44,000. EverSource Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 173 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Par Pacific during the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Up 1.8%

Shares of NYSE:PARR opened at $57.15 on Tuesday. Par Pacific has a 12-month low of $20.74 and a 12-month high of $70.39. The stock has a market cap of $2.87 billion, a PE ratio of 6.38 and a beta of 0.84. The business has a 50 day moving average of $61.80 and a 200-day moving average of $48.78. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the firm earned ($0.94) EPS. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that Par Pacific will post 15.41 earnings per share 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.