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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $44.00.

Several analysts recently issued reports on PARR shares. Tudor, Pickering, Holt & Co. upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. The Goldman Sachs Group raised their target price on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price target (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Tudor Pickering raised Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, UBS Group raised their price objective on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th.

Par Pacific Stock Up 0.8%

PARR stock opened at $35.10 on Wednesday. Par Pacific has a 52 week low of $11.86 and a 52 week high of $48.40. The business has a 50-day simple moving average of $39.31 and a 200 day simple moving average of $36.48. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.77 billion, a PE ratio of 7.39 and a beta of 1.24.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, beating the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) EPS. Sell-side analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Monteleone sold 99,284 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 423,022 shares in the company, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the sale, the executive vice president directly owned 54,654 shares in the company, valued at $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC bought a new position in shares of Par Pacific in the 2nd quarter valued at $34,609,000. Vanguard Group Inc. raised its position in Par Pacific by 30.9% in the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the last quarter. FJ Investments LLC bought a new position in Par Pacific in the second quarter valued at about $26,294,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after purchasing an additional 681,190 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Par Pacific by 7,787.1% during the fourth quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after purchasing an additional 556,780 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

About Par Pacific

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.