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

Par Pacific Holdings, Inc. (NYSE:PARR) has earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $79.4286.

PARR has been the topic of several research analyst reports. Benchmark restated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Piper Sandler increased their price objective on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Finally, TD Cowen raised their price target on Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday.

Par Pacific Stock Performance

Par Pacific stock opened at $80.56 on Wednesday. The firm’s 50 day simple moving average is $59.64 and its 200-day simple moving average is $53.55. The company has a market cap of $4.04 billion, a P/E ratio of 8.99 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. Par Pacific has a fifty-two week low of $26.83 and a fifty-two week high of $82.29.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business earned ($0.94) EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Par Pacific will post 17.85 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently added to or reduced their stakes in PARR. NewEdge Advisors LLC acquired a new stake in Par Pacific in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after purchasing an additional 173 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 81.1% during the 2nd 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. Aster Capital Management DIFC Ltd raised its holdings in shares of Par Pacific by 34.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after purchasing an additional 478 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Par Pacific by 385.6% during the 4th 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. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.