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

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $70.00.

A number of research firms have recently weighed in on PARR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday. UBS Group increased their target price on shares of Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Piper Sandler increased their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. Finally, Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently bought and sold shares of PARR. NewEdge Advisors LLC acquired a new position in Par Pacific during the first quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after buying an additional 173 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Par Pacific during the third quarter worth $48,000. Smartleaf Asset Management LLC boosted its holdings 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 acquiring an additional 1,048 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings 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 acquiring an additional 1,558 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $54.49 on Friday. The stock has a fifty day moving average of $58.50 and a 200-day moving average of $50.03. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific has a one year low of $25.81 and a one year high of $70.39. The company has a market capitalization of $2.73 billion, a PE ratio of 6.08 and a beta of 0.83.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the firm earned ($0.94) earnings per share. Par Pacific’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Par Pacific will post 15.6 EPS for the current fiscal year.

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.